Following are separate financial statements of Michael Company and Aaron Company as of December $31,2024($credit balances indicated by parentheses$).$ Michael acquired all of Aaron$$s outstanding voting stock on January $1,2020,$ by issuing $20,000$ shares of its own $$1$ par common stock. On the acquisition date, Michael Company$$s stock actively traded at $$31\mathrm{.}00$ per share.

Accounts Michael Company $12/31/24$ Aaron Company $12/31/24$

Revenues $ $(742,000)$ $ $(466,500)$

Cost of goods sold $336,000188,250$

Amortization expense $125,100121,000$

Dividend income $(5,000)0$

Net income $ $(285,900)$ $ $(157,250)$

Retained earnings, $1/1/24$ $ $(932,000)$ $ $(734,000)$

Net income $($above$)(285,900)(157,250)$

Dividends declared $90,0005,000$

Retained earnings, $12/31/24$ $ $(1,127,900)$ $ $(886,250)$

Cash $ $114,000$ $ $23,300$

Receivables $477,000268,000$

Inventory $590,000340,000$

Investment in Aaron Company $620,0000$

Copyrights $476,000371,000$

Royalty agreements $1,005,000447,000$

Total assets $ $3,282,000$ $ $1,449,300$

Liabilities $ $(1,054,100)$ $ $(433,050)$

Preferred stock $(300,000)0$

Common stock $(500,000)(100,000)$

Additional paid$-$in capital $(300,000)(30,000)$

Retained earnings, $12/31/24(1,127,900)(886,250)$

Total liabilities and equity $ $(3,282,000)$ $ $(1,449,300)$

On the date of acquisition, Aaron reported retained earnings of $$380,000$ and a total book value of $$510,000.$ At that time, its royalty agreements were undervalued by $$60,000.$ This intangible was assumed to have a six$-$year remaining life with no residual value. Additionally, Aaron owned a trademark with a fair value of $$50,000$ and a $10-$year remaining life that was not reflected on its books. Aaron declared and paid dividends in the same period.

Required:

Using the preceding information, prepare a consolidation worksheet for these two companies as of December $31,2024.$

Assuming that Michael applied the equity method to this investment, what would the Equity in Subsidiary Earnings, Retained Earnings, and Investment account balances be on the parent's individual financial statements?