Amber Corporation acquired 60 percent ownership of Sparta Company on January 1, 20X8, at underlying book value. At that date, the fair value of the noncontrolling interest was equal to 40 percent of the book value of Sparta Company. Accumulated depreciation on Buildings and Equipment was $74,000 on the acquisition date. Trial balance data at December 31, 20X8, for Amber and Sparta are as follows:

	Amber Corporation					Sparta Company
Item	Debit		Credit			Debit		Credit
Cash	$	47,000				$	16,000
Accounts Receivable		65,000					42,000
Inventory		60,000					50,000
Buildings & Equipment		509,000					246,000
Investment in Row Company Securities							44,000
Investment in Sparta Company		108,480
Cost of Goods Sold		147,000					107,000
Depreciation Expense		26,000					6,000
Interest Expense		6,000					3,000
Dividends Declared		28,000					22,200
Accumulated Depreciation			$	133,000				$	80,000
Accounts Payable				60,000					10,000
Bonds Payable				159,280					127,200
Common Stock				190,000					98,000
Retained Earnings				198,000					58,000
Other Comprehensive Income from Subsidiary (OCI)Unrealized Gain on Investments				6,000
Unrealized Gain on Investments (OCI)									10,000
Sales				228,000					153,000
Income from Subsidiary				22,200
	$	996,480	$	996,480		$	536,200	$	536,200

Additional Information

Sparta purchased stock of Row Company on January 1, 20X8, for $34,000 and classified the investment as available-for-sale securities. The value of Rows securities increased to $44,000 at December 31, 20X8.

Required:
a.	Record all consolidation entries needed to prepare a three-part consolidation worksheet as of December 31, 20X8. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b.

Prepare a three-part consolidation worksheet for 20X8 in good form. (Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.)

c.	Prepare a consolidated balance sheet, income statement, and statement of comprehensive income for 20X8. (Amounts to be deducted should be indicated with a minus sign.)