The trial balances for Blake Corporation and Shaw Corporation as of December 31, 20X4, follow:

Blake acquired 100 percent ownership of Shaw on January 1, 20X3, at a cost of $150,000, which was equal to the book value of Shaw's net assets at that date. Shaw reported $50,000 of retained earnings at acquisition. Blake uses the cost method in accounting for its investment in Shaw.

Required 

a. Give all eliminating entries required to prepare a full set of consolidated statements for 20X4. 

b. Prepare a three-part consolidation workpaper in good form as of December 31, 20X4.

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Item Current Assets Depreciable Assets Investment in Knight Company Stock Depreciation Expense Other Expenses Dividends Declared Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Sales Dividend Income Lintner Corporation Debit Credit $ 183,000 500,000 120,000 25,000 251,000 25,000 $ 200,000 120,000 200,000 268,000 300,000 16,000 $1,104,000 $1,104,000 Knight Company Debit $ 80,000 300,000 15,000 155,000 20,000 $570,000 Credit $ 90,000 110,000 100,000 70,000 200,000 $570,000