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Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31, 20X2, for $213,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition: At the date of the business combination, the book values of Faith's net assets and liabilities approximated fair value. Assume that Faith Corporation's accumulated depreciation on buildings and equipment on the acquisition date was $16,000. Required: o. Give the consolidation entry or entries needed to prepare a consolidated balance sheet immediately following the business combination. b. Prepare a consolidated balance sheet worksheet. Give the consolidation entry or entries needed to prepare a consolidated balance sheet immediately following the business combination. Note: If no entry is required for a transaction/event, select "No Journal entry required" in the first account field. Journal entry worksheet Give the consolidation entry or entries needed to prepare a consolidated balance sheet immediately following the business combination. Note: if no entry is required for a transaction/event, select "No journal entry required" in the first account field, Journal entry worksheet Record the optional accumulated depreclation consolidation entry. Note: Enter debits before credits: Prepare a consolidated balance sheet worksheet. Note: For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit. columu of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit colurn of the worksheet. Show less a

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