(Learning Objective 3: Consolidating a wholly-owned subsidiary) Razorback Express, Inc., paid $266,000 to acquire all the common stock of Sooner Corporation, and Sooner owes Razorback $81,000 on a note payable. Immediately after the purchase on September 30, 20X8, the 2 companies balance sheets follow.RazorbackSoonerAssetsCash$ 24,000$ 20,000Accounts receivable, net91,00042,000Note receivable from Sooner81,000Inventory19,000214,000Investment in Sooner266,000Plant assets, net278,000219,000Total$759,000$495,000Liabilities and Stockholders EquityAccounts payable$ 57,000$ 49,000Notes payable175,000149,000Other liabilities129,00031,000Common stock150,000118,000Retained earnings248,000148,000Total$759,000$495,000RequiredPrepare the consolidated balance sheet of Razorback Express (It is sufficient to complete a consolidation work sheet.)(Learning Objective 3: Consolidating a wholly-owned subsidiary) Razorback Express, Inc., paid $266,000 to acquire all the common stock of Sooner Corporation, and Sooner owes Razorback $81,000 on a note payable. Immediately after the purchase on September 30, 20X8, the 2 companies balance sheets follow.RazorbackSoonerAssetsCash$ 24,000$ 20,000Accounts receivable, net91,00042,000Note receivable from Sooner81,000Inventory19,000214,000Investment in Sooner266,000Plant assets, net278,000219,000Total$759,000$495,000Liabilities and Stockholders EquityAccounts payable$ 57,000$ 49,000Notes payable175,000149,000Other liabilities129,00031,000Common stock150,000118,000Retained earnings248,000148,000Total$759,000$495,000RequiredPrepare the consolidated balance sheet of Razorback Express (It is sufficient to complete a consolidation work sheet.)