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Plaza, Inc., acquires 80 percent of the outstanding common stock of Stanford Corporation on January 1, 2021, in exchange for $1,119,100 cash. At the acquisition date, Stanfords total fair value, including the noncontrolling interest, was assessed at $1,398,875. Also at the acquisition date, Stanford's book value was $575,300.

Several individual items on Stanfords financial records had fair values that differed from their book values as follows:

	Book Value				Fair Value
Trade names (indefinite life)	$	286,300			$	463,000
Property and equipment (net, 8-year remaining life)		224,800				255,200
Patent (14-year remaining life)		152,400				190,200

For internal reporting purposes, Plaza, Inc., employs the equity method to account for this investment. The following account balances are for the year ending December 31, 2021, for both companies.

	Plaza				Stanford
Revenues	$	(978,800	)		$	(687,100	)
Cost of goods sold		541,100				315,100
Depreciation expense		229,400				28,100
Amortization expense		0				22,400
Equity in income of Stanford		(252,000	)			0
Net income	$	(460,300	)		$	(321,500	)
Retained earnings, 1/1/21	$	(1,015,200	)		$	(421,500	)
Net income		(460,300	)			(321,500	)
Dividends declared		238,900				38,000
Retained earnings, 12/31/21	$	(1,236,600	)		$	(705,000	)
Current assets	$	684,800			$	343,800
Investment in Stanford		1,340,700				0
Trade names		191,200				286,300
Property and equipment (net)		820,600				196,700
Patents		0				130,000
Total assets	$	3,037,300			$	956,800
Accounts payable	$	(113,100	)		$	(98,000	)
Common stock		(238,900	)			(116,000	)
Additional paid-in capital		(1,448,700	)			(37,800	)
Retained earnings (above)		(1,236,600	)			(705,000	)
Total liabilities and equities	$	(3,037,300	)		$	(956,800	)

At year-end, there were no intra-entity receivables or payables.

Prepare a worksheet to consolidate the financial statements of Plaza, Inc., and its subsidiary Stanford. (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. Input all amounts as positive values.)

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