CONSOLIDATION WORKSHEET PROBLEM MatinefoPrepare the corresponding consolidating worksheets based on

 
   

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CONSOLIDATION WORKSHEET PROBLEM MatinefoPrepare the corresponding consolidating worksheets based on the following facts.Companies involved: Parent and Sub.Date of acquisition: Jan. 1, 20X3Date of the worksheets you must prepare: December 31, 20X4″ 20X5″ 20X6Percentage of common shares of S owned by P 90%Price paid by P $6,000,000At the time of acquisition these were some values concerning S:Common stock $750,000Aditional paid-in capital $750,000Retained earnings $495,000Years FMV-BVInventories