Acme Corporation has been operating profitably since its creation in $1998.$ At the beginning of $2022,$ Acme acquired a $70$ percent ownership in Beta Company. At the acquisition date, Acme prepared the following fair$-$value allocation schedule:

Consideration transferred for $70\%$ interest in Beta $ $875,000$

Fair value of the $30\%$ noncontrolling interest $375,000$

Beta business fair value $ $1,250,000$

Beta book value $856,000$

Excess fair value over book value $ $394,000$

Assignments to adjust Beta$$s assets to fair value:

To buildings $(20-$year remaining life$)$ $ $154,000$

To equipment $(4-$year remaining life$)(30,400)$

To franchises $(10-$year remaining life$)72,500$

To trademarks $($indefinite life$)197,900394,000$

$0$

Acme regularly buys inventory from Beta at a markup of $25$ percent more than cost. Acme's purchases during $2022$ and $2023$ and related ending inventory balances follow:

Year Intra$-$Entity Purchases Remaining Intra$-$Entity Inventory$$ End of Year $($at transfer price$)$

$2022$ $ $105,000$ $ $35,000$

$2023137,50055,000$

During $2024,$ Acme acquired additional inventory from Beta at a price of $$295,000.$ Of this merchandise, $45$ percent is still held at year$-$end.

On January $1,2024,$ Acme and Beta acted together as co$-$acquirers of $80$ percent of Cade Company's outstanding common stock. The total price of these shares was $$312,000,$ indicating neither goodwill nor other specific fair$-$value allocations. Each company put up one$-$half of the consideration transferred.

Items Acme Corporation Beta Company Cade Company

Sales and other revenues $ $(1,016,930)$ $ $(859,200)$ $ $(390,400)$

Cost of goods sold $576,000370,000216,000$

Operating expenses $285,000290,00099,900$

Income of Beta Company $(144,270)00$

Income of Cade Company $(29,800)(29,800)0$

Net income $ $(330,000)$ $ $(229,000)$ $ $(74,500)$

Retained earnings, $1/1/24$ $ $(851,000)$ $ $(688,000)$ $ $(240,000)$

Net income $($above$)(330,000)(229,000)(74,500)$

Dividends declared $100,00096,00050,000$

Retained earnings, $12/31/24$ $ $(1,081,000)$ $ $(821,000)$ $ $(264,500)$

Cash and receivables $ $51,770$ $ $275,200$ $ $72,500$

Inventory $432,950320,000260,700$

Investment in Beta Company $1,033,48000$

Investment in Cade Company $165,800165,8000$

Buildings $424,000410,000166,000$

Equipment $251,000212,00088,700$

Land $201,000352,00021,600$

Total assets $ $2,560,000$ $ $1,735,000$ $ $609,500$

Liabilities $ $(659,000)$ $ $(604,000)$ $ $(195,000)$

Common stock $(820,000)(310,000)(150,000)$

Retained earnings, $12/31/24(1,081,000)(821,000)(264,500)$

Total liabilities and equities $ $(2,560,000)$ $ $(1,735,000)$ $ $(609,500)$

Note: Parentheses indicate a credit balance.

Required:

Using the three companies$$ financial records for $2024,$ prepare a consolidation worksheet. The equity method has been applied to each investment.$\backslash$table$[[$Consolidation Worksheet$],[$Accounts$,$December $31,2024,,,,],[,,,$Consolidation Entries,$\backslash$table$[[$Noncontrolling$],[$Interest$]],\backslash$table$[[$Consolidated$],[$Balance$]]],[$Corporation$,$Company,Company,Debit,Credit$],[$Sales and other revenue,$(1,016,930),(859,200),390,400,,,,],[$Cost of goods sold,$576,000,370,000,216,000,,,,],[$Operating expenses,$285,000,290,000,99,900,,,,],[$Income of Beta Company,$(144,270),,,,,,],[$Income of Cade Company,$(29,800),(29,800),,,,,],[$Net income,$(330,000),(229,000),74,500,,,,],[$Consolidated net income,,,,,,,$0],[$Net income attributable to noncontrolling interest $($Beta$)],[$Net income attributable to noncontrolling interest $($Cade$)],[$Net income attributable to Acme Corporation,,,,,,,$0],[$Retained eamings, $1/1/24$:$],[$Acme Corporation,$851,000,,,,,,],[$Beta Company,,$688,000,,,,,],[$Cade Company,,,$240,000,,,,],[$Net income,$330,000,229,000,74,500,,,,],[$Dividends declared$],[$Acme Corporation,$100,000,,,,,,],[$Beta Company,,$96,000,,,,,],[$Cade Company,,,$50,000,,,,],[$Retained earnings. $12/31/24,(1\mathrm{.}081\mathrm{.}000),(821\mathrm{.}000),264\mathrm{.}500,,,,0],[$Cash and receivables,$51,770,275,200,72,500,,,,],[$Inventory$,432,950,320,000,260,700,,,,],[$Investment in Beta Company,$1,033,480,,,,,,],[$Investment in Cade Company,$165,800,165,800,,,,,],[$Buildings$,424,000,410,000,166,000,,,,],[$Equipment$,251,000,212,000,88,700,,,,],[$Land$,201,000,352,000,21,600,,,,],[$Trademarks$],[$Franchise contracts$],[$Total assets,$(2,560,000),(1,735,000),609,500,,,,0],[$Liabilities$,(659,000),(604,000),195,000,,,,],[$Noncontrolling interest in Cade$],[$Noncontrolling interest in Beta$],[$Noncontrolling interest in subsidiary companies,,,,,,$0,],[$Common stock,