George. Inc. acquired 60% of Cunningham Co.'s common stock for $372,000 on January 1, 2016. Cunningham's book value at acquisition was $320,000 and the fair value of the 40% noncontrolling interest was $248,000. The subsidiary held patents, with a 10 year remaining life, that were understated on Cunningham's books by $70,000. Cunningham also had an unrecorded customer list with a 15 year remaining life, estimated to be worth $45,000. Any remaining excess fair value is atributable to goodwill. Since acquisition, George has applied the equity method to account for the acquisition of Cunningham. There has been no impairment of goodwill. The i 2. ntercompany inventory sales follow: Sales price to Cost to George (at transfer price Cunningham $150,000 $160,000 Ending Balance 2016 $120,000 $112,000 $50,000 $40,000 The individual financial statements as of December 31,2017 follow: Sales Cost of Goods Sold Operating Expenses Equity Earnings in Cunningham28,000 Net Income George Cunningham 700,000 460,000 188,000 335,000 205,000 70,000 Beginning Retained Earnings Net Income (from above) Dividends Paid Ending Retained Earnings 695,000 80,000 280,000 60,000 325.000 Cash and Receivables Inventory Investment in Cunningham Buildings (net) Equipment (net) Patents (net) Total Assets 248,000 233,000 411,000 308,000 220,000 148,000 129,000 202,000 86,000 20,000 585.000 Liabilities Common Stock Retained Earnings Total Liab & Equity 390,000 300,000 730,000 160,000 100,000 585,000 Required Prepare a worksheet to consolidate the separate 2017 financial statements for George and Cunningham. (Identify each entry with the appropriate consolidating entry letter, ie (S), (A), etc.)