On February 1, 2011, Punto Company purchased 95% of the outstanding common stock of Sara Company and 85% of the outstanding common stock of Rob Company. Immediately before the two acquisitions, balance sheets of the three companies were as follows:

Punto Sara Rob
Cash $165,000 $ 45,000 $17,000
Accounts receivable 35,000 35,000 26,000
Notes receivable 18,000 -0- -0-
Merchandise inventory 106,000 35,500 14,000
Prepaid insurance 13,500 2,500 500
Advances to Sara Company 10,000
Advances to Rob Company 5,000
Land 248,000 43,000 15,000
Buildings (net) 100,000 27,000 16,000
Equipment (net) 35,000 10,000 2,500
Total $735,500 $198,000 $91,000

Accounts payable $ 25,500 $ 20,000 $10,500
Income taxes payable 30,000 10,000 -0-
Notes payable -0- 6,000 10,500
Bonds payable 100,000 -0- -0-
Common stock, $10 par value 300,000 144,000 42,000
Other contributed capital 150,000 12,000 38,000
Retained earnings (deficit) 130,000 6,000 (10,000)
Total $735,500 $198,000 $91,000

The following additional information is relevant.
1. One week before the acquisitions, Punto Company had advanced $10,000 to Sara Company and $5,000 to Rob Company. Sara Company recorded an increase to Accounts  Payable for its advance, but Rob Company had not recorded the transaction.
2. On the date of acquisition, Punto Company owed Sara Company $12,000 for purchases on account, and Rob Company owed Punto Company $3,000 and Sara Company $6,000 for such purchases. The goods purchased had all been sold to outside parties prior to acquisition.
3. Punto Company exchanged 13,400 shares of its common stock with a fair value of $12 per share for 95% of the outstanding common stock of Sara Company. In addition, stock issue fees of $4,000 were paid in cash. The acquisition was accounted for as a purchase.
4. Punto Company paid $50,000 cash for the 85% interest in Rob Company.
5. Three thousand dollars of Sara Company's notes payable and $9,500 of Rob Company'snotes payable were payable to Punto Company.
6. Assume that for Sara, any difference between book value and the value implied by thepurchase price relates to subsidiary land. However, for Rob, assume that any excess of book value over the value implied by the purchase price is due to overvalued buildings.

A. Give the book entries to record the two acquisitions in the accounts of Punto Company.
B. Prepare a consolidated balance sheet workpaper immediately after acquisition.
C. Prepare a consolidated balance sheet at the date of acquisition for Punto Company and its subsidiaries.