The summarized balance sheet of Separate Company on January 1, 20X3, contained the following amounts: Total Assets $380,000 Total Liabilities Preferred Stock Common Stock Retained Earnings Total Liabilities and Equities $50,000 120,000 50,000 160,000 $ 380,000 Total Assets$380,000 On January 1, 20X3, Point 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 Point's purchase of shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)