On January 1, 2017, Parker Company purchased 95% of the outstanding common stock of Sid Company for $160,000. At that time, Sid?s stockholders? equity consisted of common stock, $120,000; other contributed capital, $10,000; and retained earnings, $23,000. On December 31, 2017, the two companies? trial balances were as follows:

Required:

A. Prepare a consolidated statements workpaper on December 31, 2017.

B. Prepare a consolidated statements workpaper on December 31, 2018, assuming trial balances for Parker and Sid on that date were:

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Parker Sid $ 62,000 $ 30,000 Cash 29,000 Accounts Receivable 32,000 16,000 Inventory 30,000 Investment in Sid Company Plant and Equipment 160,000 105,000 82,000 Land 29,000 34,000 Dividends Declared 20,000 20,000 Cost of Goods Sold 130,000 40,000 Operating Expenses 20,000 14,000 Total Debits $588,000 $265,000 $ 19,000 $ 12,000 Accounts Payable Other Liabilities 10,000 20,000 Common Stock 180,000 120,000 Other Contributed Capital Retained Earnings, 1/1 10,000 60,000 40,000 23,000 Sales 260,000 80,000 19,000 -0- Dividend Income Total Credits $588,000 $265,000 Parker Sid Cash $ 67,000 $ 16,000 Accounts Receivable Inventory Investment in Sid Company 56,000 32,000 48,500 38,000 160,000