On January 1, 2019, Alpha acquired 80 percent of Delta. Of Delta’s total business fair value, $125,000 was allocated to copyrights with a 20-year remaining life. Subsequently, on January 1, 2020, Delta obtained 70 percent of Omega’s outstanding voting shares. In this second acquisition, $120,000 of Omega’s total business fair value was assigned to copyrights that had a remaining life of 12 years. Delta’s book value was $490,000 on January 1, 2019, and Omega reported a book value of $140,000 on January 1, 2020.

Delta has made numerous inventory transfers to Alpha since the business combination was formed. Intra-entity gross profits of $15,000 were present in Alpha’s inventory as of January 1, 2021. During the year, $200,000 in additional intra-entity sales were made with $22,000 in intraentity gross profits in inventory remaining at the end of the period. Both Alpha and Delta utilized the partial equity method to account for their investment balances. Following are the individual financial statements for the companies for 2021 with consolidated totals (credit balances indicated by parentheses). Develop the worksheet entries necessary to derive these reported balances:

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Alpha Company Delta Omega Company Consolidated Company Totals $ (900,000) $ (500,000) 240,000 Sales .. Cost of goods sold Operating expenses.. Income of subsidiary $ (200,000) 80,000 $(1,400,000) 627,000 500,000 294,000 (144,000) 129,000 489,250 50,000 -0- (49,000) -0- Separate company net income $ (250,000) $ (180,000) $ (70,000) Consolidated net income Net income attributable to noncontrolling interest (Delta Company). Net income attributable to noncontrolling interest (Omega Company). Net income attributable to Alpha Company.... $ (283,750) 31,950 18,000 $ (233,800) $ (572,400) (233,800) Retained earnings, 1/1/21. Net income (above) Dividends declared... Retained earnings, 12/31/21 $ (600,000) (250,000) $ (400,000) (180,000) $ (100,000) (70,000) 50,000 50,000 40,000 50,000 ... . $ (800,000) $ (540,000) $(120,000) $ (756,200) $ 70,000 Cash and receivables.. Inventory..... Investment in Delta Company. Investment in Omega Company. Property, plant, and equipment Copyrights ... $ 262,000 290,000 $ 538,000 738,000 -0- $ 206,000 310,000 160,000 628,000 -0- -0- 238,000 -0- -0- 316,000 1,006,000 206,250 420,000 270,000 --0- -0- -0- Total assets . $ 1,600,000 $ 1,070,000 $ 500,000 $ 2,488,250 $ (600,000) (200,000) (800,000) $ (410,000) (120,000) (540,000) $ (280,000) (100,000) (120,000) Liabilities.. Common stock Retained earnings, 12/31/21.. Noncontrolling interest in Delta Company, 12/31/21 Noncontrolling interest in Omega Company, 12/31/21 Total liabilities and equities. $(1,290,000) (200,000) (756,200) -0- (146,050) -0- -0- -0- (96,000) $ (1,600,000) $ (1,070,000) $ (500,000) $(2,488,250)