Parrot Inc.acquired an 85% interest in Sparrow Corporation on January 2,2014 for $42,500 cash when Sparrow had Capital Stock of $15,000 and Retained Earnings of $25,000.Sparrow's assets and liabilities had book values equal to their fair values except for inventory that was undervalued by $2,000.Balance sheets for Parrot and Sparrow on January 2,2014,immediately after the business combination,are presented in the first two columns of the consolidated balance sheet working papers. 
Required:
Complete the consolidation balance sheet working papers for Parrot and subsidiary at January 1,2014.
Definitions:
Domestic Violence
Physical, sexual, emotional, economic, or psychological actions or threats of actions that influence another person within a household.
Type 1 Diabetes
An autoimmune disease where the pancreas produces little to no insulin, requiring individuals to manage their blood sugar levels through insulin therapy and lifestyle adjustments.
Homeless Persons
Individuals who lack a fixed, regular, and adequate nighttime residence, leading to living in shelters, streets, or other precarious situations.
Census Tracts
Small, relatively permanent statistical subdivisions of a county or equivalent entity, designed to be relatively homogeneous units regarding population characteristics.
Q1: Park Incorporated purchased a 70% interest in
Q3: Sandpiper Corporation paid $120,000 for annual property
Q10: The primary goal behind consolidating financial statements
Q12: Wild West,Incorporated (a U.S.corporation)sold inventory to a
Q16: What is the reported amount for the
Q18: Puddle Corporation acquired all the voting stock
Q21: In reference to estate principal and income,which
Q35: Under GAAP,for nonprofit,nongovernmental entities,an unconditional transfer of
Q39: Selvey Inc.is a wholly-owned subsidiary of Parsfield
Q40: The balance sheet of the Addy,Bess,and Clara