December 31, 2024, trial balances for Pledge Company and its subsidiary Stom Company follow:Pledge Company purchased 72,000 shares of Stom Company’s common stock on January 1, 2021, for $300,000. On that date, Stom Company’s stockholders’ equity was as follows:

Other information:
1. Receivables of Pledge Company include a $55,000, 12% note receivable from Stom Company.
2. Interest amounting to $6,600 has been accrued by each company on the note payable from Stom to Pledge. Stom Company has not yet paid this interest.
3. The difference between book value and the value implied by the purchase price relates to subsidiary land.

Required:
Prepare a consolidated statements workpaper for the year ended December 31, 2024. Note that the percentage purchased is based on outstanding shares of Stom and not issued shares.

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Cash and Marketable Securities Receivables (net) Inventory Investment in Stom Company Plant and Equipment (net) Land Cost of Goods Sold Operating Expenses Dividends Declared Treasury Stock (10,000 shares at cost) Total Debits Accounts Payable Accrued Expenses Notes Payable Common Stock, $1 par value Other Contributed Capital Retained Earnings, 1/1 Sales Equity in Subsidiary Income Interest Income Total Credits Pledge $184,600 182,000 214,000 478,400 309,000 85,000 460,000 225,000 50,000 -0- $2,188,000 $ 96,000 31,000 100,000 300,000 150,000 550,000 880,000 74,400 6,600 $2,188,000 $ Stom 72,000 180,000 212,000 301,000 75,000 185,000 65,000 30,000 20,000 $1,140,000 $ 79,000 18,000 200,000 100,000 80,000 320,000 340,000 3,000 $1,140,000