The summarized balance sheet of Separate Company on January 1, 20X3, contained the following amounts: Total Assets $ 425,000 Total Liabilities $ 60,000 Preferred Stock 135,000 Common Stock 50,000 Retained Earnings 180,000 Total Assets $ 425,000 Total Liabilities and Equities $ 425,000On January 1, 20X3, Joint Corporation acquired 80 percent of the common shares and 70 percent of the preferred shares of Separate Company at underlying book value. At that date, the fair value of the noncontrolling interest in Separate’s common stock was equal to 20 percent of the book value of its common stock. Required:Prepare the worksheet consolidation entries needed to prepare a consolidated balance sheet immediately following Joint’s purchase of shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Preferred stockcommon stockretained earningsinvestments in separate Common StockInvestment in Separate Preferred StockNCI in NA of Separate

For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?