trim corporation acquired 100 percent of round corporation's voting common stock on january 1 20x2 for 400,000. at that date the book values and fair values of round's assets and liabilities were equal. round reported the following sumarize balance sheet data.

assets 700,000 accounts payable 100,000

bonds payable 200,000

common stock 120,000

retained earnings 280,000

total 700,000

Total 700,000

give the consolidated entries needed at december 31,20X2 to prepare consolidated fiancial statements