On March 22, 2017, Primary Investments Corp. paid $1,575,000 to purchase 70 percent of the common shares of Secondary Products Inc., and Primary Investments Corp. owes Secondary Products Inc. $400,000 on a note payable. The fair market value of Secondary Products Inc.'s net assets equaled the book value. Immediately after the purchase, the two companies' balance sheets were as follows:

Required
Prepare a consolidation worksheet.

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Primary Secondary Investments Products Corp. Inc. Assets Cash Accounts receivable, net Note receivable from Primary $ 570,000 $ 150,000 440,000 540,000 Investments Corp Inventory Investment in Secondarv Products Inc. Property, plant, and equipment, net Total Liabilities and Shareholders' Equity Accounts pavable Notes payable Note payable to Secondary Products Inc. Other liabilities Non-controlling interest Common shares Retained earnings Total 400,000 540,000 750,000 1,575,000 1,797,000 1,520,000 $5,232,000 $3,050,000 $ 480,000 420,000 270,000 1,077,000 400,000 155,000 230,000 540,000 1,950,000 1,590,000 $5,232,000 $3,050,000 1,170,000