Black Co. Blue Co. Sales $360,000 $228,000 ExPense-s {240.0001 (132,000) Net income $120,000 i 96,000 Retained earnings, January 1, 20X1 $480,000 $25 2,000 Net income (from above) 120,000 96,000 Dividends paid 136.0001 -0- Retained earnings, December 31, 20Xl M W Current assets $360,000 $120,000 Land 1 20 .000 1 08,000 Building (net) 480,000 336,000 Total assets W W Liabilities $108,000 $132,000 Common stock 192,000 \"2,000 Additional paid-in capital 96,000 12,000 Retained earnings. December 31,20Xl 564,000 348,000 Total liabilities and stockholders' equity $960,000 564,000 On December 31, 20X1 (subsequent to the preceding statements), Black exchanged 10,000 shares of its $10 par value common stock for all of the outstanding shares of Blue. Black's stock on that date has a fair value of $60 per share. Black was willing to issue 10,000 shares of stock because Blue's land was appraised at $204,000. Black also paid $14,000 to several attorneys and accountants who assisted in creating this combination. Required: Assuming that these two companies retained their separate legal identities, prepare a consolidation worksheet as of December 31, 20X1 after the acquisition transaction is completed