Here is the entire problem; however the trial balance did notcopy in correctly. I need to know how to calculate thebasic consolidation entry (mostly income from Soda Company,Investment in Soda Company, NCI in NI and NCI in NA.

Pop Corporation acquired 70 percent of Soda Company's votingcommon shares on January 1, 20X2, for $119,000. At that date, thenoncontrolling interest had a fair value of $51,000 and Sodareported $70,000 of common stock outstanding and retained earningsof $33,000. The differential is assigned to buildings andequipment, which had a fair value $29,000 higher than book valueand a remaining 10-year life, and to patents, which had a fairvalue $38,000 higher than book value and a remaining life of fiveyears at the date of the business combination. Trial balances forthe companies as of December 31, 20X3, are as follows:

Pop Corporation       SodaCompany  
Item       Debit      Credit      Debit       Credit  
Cash & Accounts Receivable      $   18,400                     $   24,600                    
Inventory          168,000                         38,000                    
Land          83,000                         43,000                    
Buildings & Equipment          370,000                         263,000                    
Investment in Soda Company          117,235                                              
Cost of Goods Sold          189,000                         82,800                    
Depreciation Expense          20,000                         15,000                    
Interest Expense          19,000                         8,200                    
Dividends Declared          33,000                         18,000                    
Accumulated Depreciation                 $   143,000                         $  75,000      
Accounts Payable                     95,400                             38,000     
Bonds Payable                     240,790                             110,000     
Bond Premium                                                   1,600     
Common Stock                     123,000                             70,000     
Retained Earnings                     130,900                             63,000     
Sales                     263,000                             135,000     
Other Income                     12,600                                   
Income from Soda Company                     8,945                                   
$   1,017,635      $   1,017,635          $   492,600          $  492,600      

On December 31, 20X2, Soda purchased inventory for $31,200 andsold it to Pop for $48,000. Pop resold $30,000 of the inventory(i.e., $30,000 of the $48,000 acquired from Soda) during 20X3 andhad the remaining balance in inventory at December 31, 20X3.

During 20X3, Soda sold inventory purchased for $65,000 to Popfor $100,000, and Pop resold all but $29,000 of its purchase. OnMarch 10, 20X3, Pop sold inventory purchased for $17,000 to Sodafor $34,000. Soda sold all but $8,500 of the inventory prior toDecember 31, 20X3. Assume Pop uses the fully adjusted equitymethod, that both companies use straight-line depreciation, andthat no property, plant, and equipment has been purchased since theacquisition.

Required:
a. Prepare all consolidation entries needed to prepare a full setof consolidated financial statements at December 31, 20X3, for Popand Soda. (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 20X3.(Values in the first two columns (the "parent" and "subsidiary"balances) that are to be deducted should be indicated with a minussign, while all values in the "Consolidation Entries" columnsshould be entered as positive values. For accounts where multipleadjusting entries are required, combine all debit entries into oneamount and enter this amount in the debit column of the worksheet.Similarly, combine all credit entries into one amount and enterthis amount in the credit column of the worksheet.)