Using Microsoft Excel, prepare CONSOLIDATION WORKSHEET (spreadsheet) for Salmon and Perch. See project details below. On December 31, 20X8, Defoe Corporation acquired 80 percent of Crusoe Company's common stock for $104,000 cash. The fair value of the non-controlling interest at that date was determined to be $26,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition:

	Defoe Corporation	Crusoe Company
Cash	$90,000	$20,000
Accounts Receivable	80,000	35,000
Inventory	100,000	40,000
Land	40,000	60,000
Buildings and Equipment	300,000	100,000
Less: Accumulated Depreciation	-100,000	-40,000
Investment in Crusoe	104,000
Total Assets	$614,000	$215,000
Accounts Payable	$120,000	$30,000
Mortgage Payable	200,000	100,000
Common Stock	50,000	25,000
Retained Earnings	244,000	60,000
Total Liabilities and Stockholder's Equity	$614,000	$215,000

On that date, the book values of Crusoe's assets and liabilities approximated fair value except for inventory, which had a fair value of $45,000, and buildings and equipment, which had a fair value of $100,000. At December 31, 20X8, Defoe reported accounts payable of $15,000 to Crusoe, which reported an equal amount in its accounts receivable.

Requirements: Provide the consolidating entries needed to prepare a consolidated balance sheet immediately following the business combination. Prepare a consolidated balance sheet worksheet.