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Platinum Corporation acquired 14,000 shares of the common stock and 600 shares of the 8 percent preferred stock of Silver Company on December 31, 20X4, at the book value of the underlying stock interests. At that date, the fair value of the noncontrolling interest in Silver's common stock was equal to 30 percent of the book value of its common stock interest. Silver reported the following balance sheet amounts on January 1, 20X5:

Talbott Company purchased 80 percent of Short Company's stock on January 1, 20X8, at underlying book value. At that date, the fair value of the noncontrolling interest was equal to 20 percent of Short's book value. On December 31, 20X9, Short purchased 10 percent of Talbott's stock. Balance sheets for the two companies on December 31, 20X9, are as follows: TALBOTT COMPANY Condensed Balance Sheet December 31, 20x9 $ 84,000 Accounts Payable 85,000 Accounts Receivable 147,000 Bonds Payable 395,000 Inventory 149,000 Common Stock 330,000 Buildings & Equipment (net) 370,000 Retained Earnings 340,000 Investment in Short Co. 400,000 Total Assets $1,150,000 Total Liabilities & Equities $1,150,000 Cash $ Cash Accounts Receivable Inventory Buildings & Equipment (net) Investment in Talbott Co. Total Assets SHORT COMPANY Condensed Balance Sheet December 31, 20X9 $ 45,000 Accounts Payable 93,000 Bonds Payable 124,000 Common Stock 330,000 Retained Earnings 67,000 $659,000 Total Liabilities & Equities $ 54,000 105,000 230,000 270,000 $659,000 required: Present the worksheet consolidation entry needed to prepare a consolidated balance sheet on January 1, 20X5. (If no entry is equired for a transaction/event, select "No Journal entry required" In the first account field.) view transaction list Consolidation Worksheet Entries

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