Plaza, Inc., acquires 80 percent of the outstanding common stock of Stanford Corporation on
January 1, 2018, in exchange for $900,000 cash. At the acquisition date, Stanford's total fair value, including the non-controlling interest, was assessed at $1,125,000. Also at the acquisition date, Stanford's book value was $690,000.
Several individual items on Stanford's financial records had fair values that differed from their book values as follows:
___________________________________________ Book Value ___________ Fair Value
Trade-names (indefinite life) . . . . . . . . . . . . . . . . . . . . .$ 360,000 . . . . . . . . . . . . . . $383,000
Property and equipment (net, 8-year remaining life). . .290,000 . . . . . . . . . . . . . . . . 330,000
Patent (14-year remaining life) . . . . . . . . . . . . . . . . . . 132,000 . . . . . . . . . . . . . . . . . 272,000
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, 2018, for both companies.

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?

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Plaza Stanford Revenues Cost of goods sold Depreciation expense Amortization expense $(1,400,000 (825,000) 395,750 36,250 28,000 774,000 328,000 80 $(578,000) S (365,000 $(1,275,000) (530,000) (365,000) 50,000 Net income Retained earnings, 1/1/18... Net income Dividends declared. Retained earnings, 12/31/18 Current assets Investment in Stanford Tradenames Property and equipment (net) Patents (578,000) 300,000 $1.553,000) $ 860.000 1,140,000 240,000 1,030,000 S (845,000) $ 432,250 360,000 253,750 104,000 $ 1,150,000 Total assets Accounts payable Common stock Additional paid-in capital Retained earnings (above).... $3,270,000 $(142,000) $ (145,000) (120,000) (40,000) (1,553,000) (845,000 (300,000) (1,275,000) Total liabilities and equities $(3,270,0