Information on balance sheet book values and fair values just after Pileated Company’s acquisition of all of Sparrow Corporation common stock for $250,000 cash is as follows:

	Pileated Book Value Dr (Cr)	Sparrow Book Value Dr (Cr)	Sparrow Fair Value Dr (Cr)
Current assets	$ 30,000	$ 4,000	$ 3,000
Plant assets	500,000	50,000	45,000
Identifiable intangible assets	40,000	6,000	80,000
Investment in Sparrow	250,000
Current liabilities	(100,000)	(3,000)	(3,000)
Long-term liabilities	(370,000)	(50,000)	(50,000)
Common stock	(2,000)	(400)
Additional paid-in capital	(260,000)	(13,000)
Retained earnings/deficit	(108,000)	4,000
Treasury stock	8,000	400
Accumulated other comprehensive loss	12,000	2,000
Total	$ 0	$ 0

Prepare a consolidation work paper at the date of acquisition using the adjusting/elimination entries “E” and “R” as outlined in Advanced Accounting, by Susan S. Hamlen, 5^th ed. © 2023.

Be sure to present a trial balance (debit and credit columns) for both the parent, subsidiary, adjustments/elimination entries, and consolidated data.