The summarized balance sheet of Separate Company on January 1, 20X3, contained the following amounts: 40,000 105,000 90,000 190,000 Total Assets $ 425,000 Total Liabilities Preferred Stock Common Stock Retained Earnings Total Assets $ 425,000 Total Liabilities and Equities 425,000 On January 1, 20X3, Joint Corporation acquired 80 percent of the common shares and 70 percent of the preferred shares of Separate Company at underlying book value. At that date, the fair value of the noncontrolling interest in Separate's common stock was equal to 20 percent of the book value of its common stock. Required Prepare the worksheet consolidation entries needed to prepare a consolidated balance sheet immediately following Joint's purchase of shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list transaction list Event Accounts Debit Credit Preferred stock Common stock Retained earnings Investment in Separate CS Investment in Separate PS NCI in NA of Separate 105,000 90,000 190,000