What portion of the subsidiary stockholders' equity account balances should be eliminated in preparing the consolidated balance sheet? Share Capital only All of the balances are eliminated Retained Earnings only Common stock only QUESTION 29 Company P purchased 70% stock in Company S on Jan 1, 20x1 for $80,000 cash. Just before acquisition, the cash balance of P was $150,000 and the cash balance of Company S was $40,000. In the consolidated balance sheet after the acquisition, the cash balance will be reported at $50,000 $90,000 $110,000 $160,000