Blake Corporation acquired 100 percent of Shaw Corporation's voting shares on January 1, 20X3, at underlying book value. At that date, the book values and fair values of Shaw's assets and liabilities were equal. Blake uses the equity method in accounting for its investment in Shaw. Adjusted trial balances for Blake and Shaw on December 31, 20X3, are as follows: Shaw Corporation Blake Corporation Item Current Assets Depreciable Assets (net) Investment in Shaw Corporation Stock Depreciation Expense Other Expenses Dividends Declared Current Liabilities Long-Term Debt Debit Credit $ 146,000 Debit $ 112,000 Credit 339,000 236,000 154,000 22,000 12,000 95,000 67,000 53,000 25,000 $ 44,000 $ 34,000 90,000 160,000 Common Stock 192,000 92,000 Retained Earnings Sales Income from Subsidiary $ 809,000 $ 809,000 $ 452,000 $ 452,000 222,000 42,000 216,000 124,000 45,000