Consolidated Workpaper, Partially Owned Subsidiary—Subsequent Years, Cost Method Price Company purchased 90% of the outstanding common stock of Score Company on January 1, 2002; for $450,000. At that time, Score Company had stockholders’ equity consisting of common stock, $200,000; other contributed capital, $160,000; and retained earnings, $90,000. On December 31, 2006, trial balances for Price Company and Score Company were as follows: LO6 Price Score Cash $ 109,000 $ 78,000 Accounts Receivable 166,000 94,000 Note Receivable 75,000 —)—

Inventory 309,000 158,000 Investment in Score Company 450,000 —0—
Plant and Equipment 940,000 420,000 Land 160,000 70,000 Dividends Declared 70,000 50,000 Cost of Goods Sold 822,000 242,000 Operating Expenses 250,500 124,000 Total Debits $3,351,500 $1,236,000 Accounts Payable $ 132,000 $ 46,000 Notes Payable 300,000 120,000 Common Stock 500,000 200,000 Other Contributed Capital 260,000 160,000 Retained Earnings, 1/1 687,000 210,000 Sales 1,420,000 500,000 Dividend and Interest Income 52,500 —J0—
Total Credits $3,351,500 $1,236,000 Price Company’s note receivable is receivable from Score Company. Interest of $7,500 was paid by Score to Price during 2006. Any difference between cost and book value relates to goodwill.
Required:
Prepare a consolidated statements workpaper on December 31, 2006.