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House Corporation has been operating profitably since its creation in 1960. At the beginning of 2016, House acquired a 70 percent ownership in Wilson Company. At the acquisition date, House prepared the following fair-value allocation schedule:

Consideration transferred for 70% interest in Wilson					$	770,000
Fair value of the 30% noncontrolling interest						330,000
Wilson business fair value					$	1,100,000
Wilson book value						751,000
Excess fair value over book value					$	349,000
Assignments to adjust Wilsons assets to fair value:
To buildings (20-year remaining life)	$	86,000
To equipment (4-year remaining life)		(31,200	)
To franchises (10-year remaining life)		55,500				110,300
To goodwill (indefinite life)					$	238,700

House regularly buys inventory from Wilson at a markup of 25 percent more than cost. House's purchases during 2016 and 2017 and related ending inventory balances follow:

Year	Intra-Entity Purchases	Remaining Intra-Entity Inventory End of Year (at transfer price)
2016	$131,250	$43,750
2017	159,375	63,750

On January 1, 2018, House and Wilson acted together as co-acquirers of 80 percent of Cuddy Company's outstanding common stock. The total price of these shares was $260,800, indicating neither goodwill nor other specific fair-value allocations. Each company put up one-half of the consideration transferred. During 2018, House acquired additional inventory from Wilson at a price of $233,000. Of this merchandise, 45 percent is still held at year-end.

	House Corporation				Wilson Company				Cuddy Company
Sales and other revenues	$	(976,608	)		$	(859,860	)		$	(401,700	)
Cost of goods sold		597,000				370,000				228,000
Operating expenses		221,000				294,500				99,600
Income of Wilson Company		(136,752	)			0				0
Income of Cuddy Company		(29,640	)			(29,640	)			0
Net income	$	(325,000	)		$	(225,000	)		$	(74,100	)
Retained earnings, 1/1/18	$	(884,000	)		$	(628,000	)		$	(176,000	)
Net income (above)		(325,000	)			(225,000	)			(74,100	)
Dividends declared		100,000				96,000				50,000
Retained earnings, 12/31/18	$	(1,109,000	)		$	(757,000	)		$	(200,100	)
Cash and receivables	$	79,458			$	264,960			$	82,250
Inventory		405,050				338,000				78,350
Investment in Wilson Company		970,452				0				0
Investment in Cuddy Company		140,040				140,040				0
Buildings		453,000				389,000				221,000
Equipment		326,000				204,000				90,200
Land		256,000				351,000				18,300
Total assets	$	2,630,000			$	1,687,000			$	490,100
Liabilities	$	(701,000	)		$	(620,000	)		$	(140,000	)
Common stock		(820,000	)			(310,000	)			(150,000	)
Retained earnings, 12/31/18		(1,109,000	)			(757,000	)			(200,100	)
Total liabilities and equities	$	(2,630,000	)		$	(1,687,000	)		$	(490,100	)

Note: Parentheses indicate a credit balance.

Using the three companies' following financial records for 2018, prepare a consolidation worksheet. The partial equity method based on separate company incomes has been applied to each investment. (For accounts where multiple consolidation 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. Amounts in the Debit and Credit columns should be entered as positive. Negative amounts for the Noncontrolling Interest and Consolidated Totals columns should be entered with a minus sign.)

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