Presented Below Are the Balance Sheets of Blanco,Inc On January 1,2X13,Stalle Company Acquired 70% of the Outstanding Common

Presented below are the balance sheets of Blanco,Inc.and Stalle Company at January 1,2X13: $\begin{array}{l}\begin{array} { l } &&\text { Dental Works} & &\text { Stalle Company}\\&&\text { Balance Sheet} & &\text { Balance Sheet}\\&&\text { january 1, 2X13} & &\text { january \( 1,2 \times 13 \) }\\\end{array}\\\begin{array} { l } \text { Cash } & \$ 35 \\\text { Net Fixed Assets } &265\\\text { Total Assets } & \$ 300\\\end{array}\begin{array} { l } \text { Cash } & \$250 \\\text { Net Fixed Assets } & \underline{450} \\\text { Total Assets } & \$ 700 \\\end{array}\end{array}$
$\begin{array}{llll}\text { Accounts Payable } & \$ 30 & \text { Accounts Payable } & \$ 90 \\\text { Long-term Bonds Pay. } & 100 & \text { Long-term Bonds Pay. } & 200 \\\text { Stockholders' Equity } & \underline{170} & \text { Equity } & \underline{410} \\ \text { Total Liab. \& Equity } & \$ 300 & \text { Total Liab. \& Equity } & \$ 700 \\\end{array}$ On January 1,2X13,Stalle Company acquired 70% of the outstanding common stock of Blanco,Inc.,for $119 in cash.Assume the book value of Blanco's assets and liabilities equals the market value.
What elimination journal entry will be necessary in order to prepare a consolidated balance sheet immediately after the acquisition?

A) $\begin{array}{lll}\text { Cash } & 119 \\\text { Noncontrolling Interest } & 51 \\\quad \text { Investment in Blanco } & & 170 \\\end{array}$

B) $\begin{array}{lccc}\text { Cash } & 119 \\\text { Noncontrolling Interest } & 51 \\\quad \text { Stockholders' Equity, Blanco } & & 170\end{array}$

C) $\begin{array}{lcl}\text { Stockholders' Equity, Blanco } & 170 & \\\text { Investment in Blanco Company } & & 115 \\\text { Noncontrolling Interest } & & 51 \\\end{array}$

D) $\begin{array}{lccc}\text { Stockholder's Equity, Blanco } & 119 & \\\text { Investment in Blanco Company } & & 119\end{array}$
E) No journal entry is necessary.