Pint Enterprises acquired 100 percent of Saloon Builders’ stock on December 31, 20X4. Balance sheet data for Pint and Saloon on January 1, 20X5, are as follows:

At the date of the business combination, Saloon’s cash and receivables had a fair value of $28,000, inventory had a fair value of $357,000, and buildings and equipment had a fair value of $92,000.

Required

a. Give all consolidation entries needed to prepare a consolidated balance sheet on January 1, 20X5.

b. Complete a consolidated balance sheet worksheet.

c. Prepare a consolidated balance sheet in good form.

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Pint Enterprises Saloon Builders