correct or incorrect for the work you have completed so far. It does not indica Peace Computer Corporation acquired 90 percent of Symbol Software Company's common stock on January 2, 20X3, by issuing preferred stock with a par value of $8 per share and a market value of $9.00 per share. A total of 10,000 shares of preferred stock was issued. Balance sheet data for the two companies immediately before the business combination are as follows: Cash Peace Computer Corporation Fair Value Symbol Software Company Book Value $100,000 Fair Value $100,000 170,000 Book Value $260,000 Other Assets 480,000 $260,000 480,000 Total Debits $740,000 170,000 $270,000 Current Liabilities) $150,000 150,000 $170,000 170,000 Common Stock 350,000 Retained Earnings 240,000 60,000 40,000 Total Credits $740,000 $270,000 Required: Prepare a consolidated balance sheet for the companies immediately after Peace obtains ownership of Symbol by issuing the preferred stock. Answer is complete but not entirely correct. PEACE COMPUTER CORPORATION AND SUBSIDIARY Consolidated Balance Sheet January 2, 20X3 Assets Cash Other assets 00 Prepare a consolidated balance sheet for the companies immediately after Peace obtains ownership of Symbol by issuing preferred stock. Answer is complete but not entirely correct. PEACE COMPUTER CORPORATION AND SUBSIDIARY Consolidated Balance Sheet January 2, 20X3 Assets Cash Other assets 0 0 Total Assets $ 0 Liabilities and Stockholders' Equity Current liabilities S 0 Common stock 0 Retained earnings Noncontrolling interest in net assets of Symbol Additional paid-in capital Preferred stock Total Liabilities and Stockholders' Equity 0x 0x 0x 0