Trim Corporation acquired 100 percent of Round Corporation's voting common stock on January 1,202, for $395,000. At that date. the book values and fair values of Round's assets and liabilities were equal. Round reported the following summarized balance sheet data: Round reported net income of $71,000 for 202 and paid dividends of $32,000 Required: 0. Give the journal entries recotded by Trim Corporation during 202 on its books if Trim accounts for its investment in Round using the equity method. b. Give the consolidation entries needed at December 31,202, to prepare consolidated financial statements