Zeta, Inc., owns Theta Corp. These two companies individual balance sheets follow: Requirements 1. Prepare a consolidated

Zeta, Inc., owns Theta Corp. These two companies’ individual balance sheets follow:

Requirements
1. Prepare a consolidated balance sheet of Zeta, Inc. It is sufficient to complete the consolidation work sheet. Use Exhibit 8-7 as a model.
2. What is the amount of stockholders’ equity for the consolidatedentity?

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A1 Zeta, Inc. Consolldation Work Sheet Theta Elimination Zeta, Inc.Corp bit Credit Cash Accounts receivable, net Note receivable from Zeta Inventory $48,000 18,000 82,00058,000 33,000 54,000 83,000 4 7 Investment in Theta 119,000 288,000 Plant assets, net Other assets Total 98,000 29,000 11000 S 620,000 301,000 12 13 Accounts payable 14 Notes payable $49,000 35,000 152,000 23,000 124,000 107,000 82,000 234,00037000 $ 620,000 301,000 Other liabilities 78,000 16 Common stock 17 Retained earnings 18 Total