BACC460 Assignment 3 (LO3 Trial balance data for Peanut and Snoopy as of December 31, 1018 follows. Peanut company acquired (Plug in the percentage you have been assigned) when the book value of Snoopy's net assets was equal to $344,000. Peanut uses the equity method to account for investments. Snoopy Peanut Company Cr Company Dr 000 2 .000 Accounts receivable Inventory Investment in Snoopy 463.300 16 0 212200 01 210.000 91. 714 190.000 196.00 111 00 47.000 Building and Equipment Cost of Goods Sold depreciation Expense Selling & administrative Expense Dividends declared Accumulated Depreciation 223.000 90.000 38.000 27.000 Accounts Payable 18.00 49,000 68.000 Bonds Payable Common Stock 444.00 64.00 182.0001 483.000l 356,300 794 000 Retained Earnings Sales Income from Snoopy Total 2.323.300 2.323 300 722,000 722,000 Instructions: a) Prepare the journal entries in Peanut Company books to record the transaction related to the investment in Snoopy. 1- Acquisition of 76%) of shares in Snoopy for 76% $344,000) cash 2- on December 31, 2018 received a cash dividends of $ $27.000 x 76%) 3-on December 31, 2018 Snoopy determined its net income. b) Post the previous transactions to the ledger and find new balances. (*). c) Prepare a consolidated worksheet d) Prepare a Consolidated Income Statement, a Consolidated Retained earnings statement for the year ended December 31 and a Balance Sheet at December 31, 2018. signed