Consolidated Worksheet with Differential Black Corporation acquired all of White Company’s common shares on January 1, 2015, for $180,000. On that date, the book value of the net assets reported by White was $150,000. The entire differential was assigned to depreciable assets with a six-year remaining economic life from January 1, 2015. The adjusted trial balances for the two companies on December 31, 2015, are as follows: Black Corporation White Company Item Debit Credit Debit Credit Cash $15,000 $5,000 Accounts Receivable 30,000 40,000 Inventory 70,000 60,000 Depreciable Assets (net) 325,000 225,000 Investment in White Company Common Stock 195,000 Depreciation Expense 25,000 15,000 Other Expenses 105,000 75,000 Dividends Declared 40,000 10,000 Accounts Payable $50,000 $40,000 Notes Payable 100,000 120,000 Common Stock 200,000 100,000 Retained Earnings 230,000 50,000 Sales 200,000 120,000 Income from Subsidiary 25,000 $805,000 $805,000 $430,000 $430,000 Black uses the equity-method in accounting for its investment in White. White declared and paid dividends on December 31, 2015. Required: a. Prepare the eliminating entries needed as of December 31, 2015, to complete a consolidation worksheet. b. Prepare a three-part consolidation worksheet as of December 31, 2015.