Extracted text: Subsidiary Acquired for Cash Fineline Pencil Company acquired 80 percent of Smudge Eraser Corporation's stock on January 2, 20X3, for $72,000 cash. Summarized balance sheet data for the companies on December 31, 20X2, are as follows: Fineline Pencil Company Smudge Eraser Corporation Book Value Cash Other Assets Total Debits $200,000 400,000 $600,000 Fair Value $200,000 400,000 Book Value $50,000 120,000 $170,000 Fair Value $50,000 120,000 Current Liabilities Common Stock Retained Earnings Total Credits $100,000 300,000 200,000 $600,000 100,000 $80,000 50,000 40,000 $170,000 80,000 Required Prepare a consolidated balance sheet immediately following the acquisition.