Spreadsheets EDIT Question 1 (marks 4) Question 2 (6 marks) Project guidelines On January 1, 2019, Parrot Company purchased 90% of the outstanding common stock of Sieger Company for $190,000. At that time, Sid's stockhlders' equity consisted of common stock, $140,000; other contributed capital, $20,000; and retained earnings, $23,000. Prepare a consolidated statements workpaper on 31 December 2019. Please use the Trial Balance given on the right side. Please complete all steps involved in the cost method (income statement, retained earnings, balance sheet) including preparation of statements, elimination entries and consolidation. 1:04 Blackboard EDIT Question 1 (marks 4) Question 2 (6 marks) Sieger USD ($) Cash Accounts receivable Inventory Investment in Sieger Plant & equipment Parrot 42,000 52,000 30,000 190,000 95,000 29,000 30,000 18,000 0 80,000 Land Dividends declared Cost of goods sold Operating exepense Total debits 39,000 20,000 130,000 20,000 618.000 34,000 20,000 40,000 14,000 265.000 12,000 20,000 120,000 10,000 Accounts payable Other liabilities Common stock Other contributed capital Retained Earnings Sales Dividend Income Total credits 19,000 10,000 210,000 60,000 40,000 260,000 19,000 618,000 23,000 80,000 0 265.000