Consolidation after Several Years On December 31, 2012, Adams Corporation acquired all of the stock of Baker Company. The fair value of Adams' shares used in the exchange was $37,500,000. At the time of acquisition, the book value of Baker's shareholders' equity was $5,000,000, and the book value of Baker's building (25-year life) exceeded its fair value by $1,000,000. From the date acquisition to December 31, 2018, Baker had cumulative net income of $1,300,000. For 2019, Baker reported net income of $300,000. Adams uses the complete equity method to account for its investment in Baker. There is no goodwill impairment loss for the period 2013 through 2018, but there is impairment loss of $100,000 in 2019. Baker declared no dividends during the period 2013-2019. Required Prepare the working paper eliminating entries necessary to consolidate the financial statements of Adams and Baker at December 31, 2019. Enter numerical answers using all zeros (do not abbreviate in thousands or in millions). Ref. Description (C) Equity in net income of Baker Debit Credit 140,000 x 140,000 x Investment in Baker (E) Shareholders' equity-Baker 6,300,000 Investment in Baker 0 6,300,000 (R) Buildings, net x 760,000 x Goodwill 1,500,000 x Investment in Baker 0 0 x 2,260,000 x (O) Buildings, net 0 x Goodwill = Depreciation expense 0 x 40,000 x 40,000 x 100,000 x 0 Goodwill impairment loss 100,000 x 0 x