Peanut company acquired 90 percent of snoopy company’s outstanding common stock for $270,000 on january 1, 20x8, when the book value of snoopy’s net assets was equal to $300,000. peanut uses the equity method to account for investments. trial balance data for peanut and snoopy as of december 31, 20x8, follow: b. prepare a consolidation worksheet for 20x8. assume the company prepares the optional accumulated depreciation consolidation entry. (values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "consolidation entries" columns should be entered as positive values. for accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.)