Perri Company Buys 80 Percent of the Stock of McGrath

Perri Company buys 80 percent of the stock of McGrath Company for $150,000.McGrath Company has contributed capital of $100,000 and retained earnings of $60,000.The eliminating entry that would appear on the work sheet for consolidating the balance sheets of two companies is:

A)
$\begin{array} { l c c } \text { Common Stock(McGrath) } & 100,000 \\\text { Retained Earnings(McGrath) } & 60,000 \\\text { Goodwill } & 22,000 \\\quad \text { Investment in McGrath Company(Perri) } & & 150,000 \\\text { Minority Interest } & & { 32,000 }\end{array}$
B)
$\begin{array} { l c r } \text { Common Stock(McGrath) } & 100,000 \\\text { Retained Earnings(McGrath) } & 60,000 \\\quad \text { Investment in McGrath Company(Perri) } & 160,000\end{array}$
C)
$\begin{array} { l r } \text { Common Stock(McGrath) } & 100,000 \\\text { Retained Earnings(McGrath) } & 60,000 \\\text { Investment in McGrath Company(Perri) } & 150,000 \\\text { Minority Interest } & 10,000\end{array}$
D)
$\begin{array} { l r } \text { Common Stock(McGrath) } & 100,000 \\\text { Retained Earnings(McGrath) } & 60,000 \\\text { Goodwill } & 22,000\\\text { Investment in McGrath Comnanv(Perri) }&& 182000 \end{array}$