please answer the following question

Preparing a consolidated balance sheet Phelps Corporation owns all of the common stock of Stern Company. Each company maintains its own accounting records and prepares separate financial statements. Balance sheets for each company as of December 31,20 , are as follows: a. Prepare a spreadsheet for consolidating the balance sheets of Phelps Corporation and Stern Company. If an amount box does not require an entry, leave it blank. b. Prepare a December 31,20 Y8, consolidated balance for Phelps Corporation and Subsidiary. c. Assume that the accounts recelvable of Phelps Corporation include $3,500 that is due from Stern Company. What would the consolidated balance sheet report for accounts receivable and accounts payable? Accounts recelvable 5 Accounts payable \$