Complete the worksheet below to consolidate the financial statements of the parent and subsidiary on 12/31/2015. Parkins purchased Sanville on 1/1/2015.

On January 1, 2015, Parkins Co. paid $1,530,000 to purchase 100% of the common stock of Sanville Company.

On the date Parkins acquired Sanville, the book value of Sanville was $1,200,000. Sanville's Common Stock was $800,000, and Retained Earnings was $400,000 on the date of acquisition.

On date of the acquisition Sanville's Land was undervalued $90,000; Buildings (20 year life) were undervalued $160,000; Equipment (5 year life) was overvalued $40,000; and Patents (3 year life) were undervalued $72,000.

	12/31/2015 Parkins Company	12/31/2015 Sanville Company
Income Statement
Revenues	(1,600,000)	(900,000)
Cost of Goods Sold	720,000	420,000
Depreciation Expense	200,000	80,000
Amortization Expense
Operating Expenses	120,000	100,000
Equity in Net Income of Sanville	(276,000)
Net Income	(836,000)	(300,000)
Statement of Retained Earnings
Retained Earnings 1/1	(1,676,000)	(400,000)
Net Income (above)	(836,000)	(300,000)
Dividends Declared	240,000	160,000
Retained Earnings 12/31	(2,272,000)	(540,000)
Balance Sheet
Current Assets	1,090,000	800,000
Investment in Sanville	1,646,000
Patents	216,000
Land	640,000	180,000
Buildings-net	1,200,000	800,000
Equipment-net	680,000	460,000
Goodwill
Total Assets	5,472,000	2,220,000
Current Liabilities	(400,000)	(480,000)
Long-term Liabilities	(800,000)	(400,000)
Common Stock	(2,000,000)	(800,000)
Retained Earnings-above	(2,272,000)	(540,000)
Total Liabilities & Equities	(5,472,000)	(2,220,000)

Complete the consolidation entries and label S, A, I, D, E where appropriate.