c. On October 1, 2019, Marley sells excess equipment to Foster for $45,000. Data relating to this equipment are as follows: d. Near the end of 2019, Foster reduces the balance of its intercompany...

c. On October 1, 2019, Marley sells excess equipment to Foster for $45,000. Data relating to this equipment are as follows:

d. Near the end of 2019, Foster reduces the balance of its intercompany account payable to zero by transferring $8,000 to Marley. This payment is still in transit on December 31, 2019.

Prepare the worksheet necessary to produce the consolidated balance sheet of Marley Corporation and its subsidiary as of December 31, 2019. Include an analysis for Marley’s purchase of Foster common stock on September 1, 2019.