Finding the values in red

Chrome File Edit View History B Bookmarks Profiles b Window Help 22% [ 4]. Sun 7:51 PM Q DE ... Topic: Module 6: Dis x * Drop-in Session X Question 4 - Module X Course Hero x 19 Sports Kids Bask X NOWA Discover Spring 202 X + F C https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.m... Update Mailb Apps Bookmarks 3 Amazing Outrea... https://portal.csu... Illustration M Gmail YouTube Maps > Other Bookmarks Reading Lis Module 4 Critical Thinking Assignment i Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 4 Penny Manufacturing Company acquired 75 percent of Saul Corporation stock at underlying book value. At the date of acquisition, the fair value of the noncontrolling interest was equal to 25 percent of Saul's book value. The balance sheets of the two companies for January 1, 20X1, are as follows: 20 points PENNY MANUFACTURING CORPORATION Balance Sheet January 1, 20x1 Cash $ 229 , 500 Accounts Payable $ 133 , 500 Accounts Receivable 68 , 000 Bonds Payable 390 , 000 Inventory 117 , 000 Common Stock 180 , 000 Buildings & Equipment 611, 000 Additional Paid-In Capital 30 , 000 Less: Accumulated Depreciation (142 , 000) Retained Earnings 390, 000 Investment in Saul Corporation 240 , 000 Total Assets $1, 123, 500 Total Liabilities & Equities $1, 123, 500 SAUL CORPORATION Balance Sheet Smar January 1, 20x1 Cash $ 67, 000 Accounts Payable $151 , 000 Accounts Receivable 108 , 000 Bonds Payable 290, 000 Inventory 197 , 000 Common Stock ($10 par) 100 , 000 Buildings & Equipment 611, 000 Additional Paid-In Capital 30 , 000 Less: Accumulated Depreciation (222, 000) Retained Earnings 190, 000 Total Assets $ 761, 000 Total Liabilities & Equities $761, 000 Mc Graw On M Hill NOW OF NEVER : : OU... I NoneChrome File Edit View History B Bookmarks Profiles b Window Help 22% [ 4. Sun 7:52 PM Q E ... Topic: Module 6: Dis x * Drop-in Session X Question 4 - Module X Course Hero x 19 Sports Kids Bask X NOVA Discover Spring 202 X + F C https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.m... Update Mailb Apps Bookmarks 3 Amazing Outrea... https://portal.csu... Illustration M Gmail YouTube Maps >> Other Bookmarks Reading Lis Module 4 Critical Thinking Assignment i Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question Total Assets $ 761, 000 Total Liabilities & Equities $761, 000 On January 2, 20X1, Penny purchased an additional 2,500 shares of common stock directly from Saul for $150,000. 20 Required: points a. Prepare the consolidation entry needed to complete a consolidated balance sheet worksheet immediately following the issuance of additional shares to Penny. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) x Answer is complete but not entirely correct. No Event Accounts Debit Credit A 1 Common stock 125,000 Additional paid-in capital 155,000 Retained earnings 190,000 Smar Investment in Saul Corporation 240,000 X NCI in NA of Saul Corporation 22,500 X Mc Graw On M Hill NOW OI NEVER : : OU... InDUX None