Plump Corporation acquired 100 percent of Slim Corporation's common stock on December 31, 20X2, for $239,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition: Item Cash Accounts Receivable Inventory Buildings & Equipment (net) Investment in Slim Corporation Stock Total Assets Accounts Payable Notes Payable Common Stock Retained Earnings Total Liabilities & Stockholders' Equity Plump Slim Corporation Corporation $ Journal Entries: Record the basic consolidation entry. $ $ $ 26,000 89,000 114,000 230,000 239,000 698,000 89,000 132,000 86,000 391,000 698,000 $ 18,000 48,000 60,000 158,000 $ 284,000 $ 18,000 65,000 42,000 159,000 $ 284,000 At the date of the business combination, Slim's net assets and liabilities approximated fair value except for inventory, which had a fair value of $87,000, and buildings and equipment (net), which had a fair value of $169,000. Required: a. Prepare the consolidating entry or entries needed to prepare a consolidated balance sheet immediately following the business combination. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)