December 31, 2012, trial balances for Pledge Company and its subsidiary Stom Company follow: Pledge Cash and Marketable Securities $ 184,600 $ 72,000 Receivables (net) 182,000 180.000 Inventory 214.000 212.000 Investment in Stom Company 300.000 -0- Plant and Equipment (net) 309.000 301.000 Land 85.000 75,000 Cost of Goods Sold 160.000 185,000 Operating Expenses 225,000 65,000 Dividends Declared 50,000 30,000 Treasury Stock (10,000 shares at cost) 20.000 Total Debits $2.009.600 $1,140.000 Accounts Payable $ 96.000 $ 79.000 Accrued Expenses 81,000 18.000 Notes Payable 100,000 200.000 Common Stock, $1 par value 300.000 100.000 Other Contributed Capital 150,000 80.000 Retained Earnings, 1/1 122,000 320,000 Sales 880.000 340,000 Dividend and Interest Income 30,600 3.000 Total Credits $2,009.600 $1,140,000 Pledge Company purchased 72,000 shares of Stom Company's common stock on January 1, 2009, for $300,000. On that date, Stom Company's stockholders' equity was as follows: Common Stock. $1 par value $100,000 Other Contributed Capital 80.000 Retained Earnings 160.000 Treasury Stock (10,000 shares at cost) (20,000) Total $320,000 Additional information: 1. Receivables of Pledge Company include a $55,000, 12% note receivable from Stom Company. 2. Interest amounting to $6,600 has been accrued by each company on the note payable from Stom to Pledge. Stom Company has not yet paid this interest. 3. The difference between book value and the value implied by the purchase price relates to subsidiary land. Required: Prepare a consolidated statements workpaper for the year ended December 31, 2012