Green Corporation acquired all of Vega Companys outstanding stock on January 1, 2019 for $564,000 cash. Vegas accounting records showed net assets on that date of $394,000, although equipment with a 10-year life was undervalued on the records by $82,000. Any recognized goodwill is considered to have an indefinite life.

Vega reports net income in 2019 of $161,500 and $187,500 in 2020. The subsidiary declared dividends of $40,000 in each of these two years. Account balances for the year ending December 31, 2021, follow. Credit balances are indicated by parentheses.

	Green	Vega
Revenues	(1,168,000)	(908,000)
Cost of goods sold	146,000	227,000
Depreciation expense	426,000	383,000
Investment income	(20,000)
Net income	(616,000)	(298,000)
Retained earnings, 1/1/21	(998,000)	(357,000)
Net income	(616,000)	(298,000)
Dividends paid	120,000	20,000
Retained earnings, 12/31/21	(1,494,000)	(635,000)
Current assets	307,000	198,000
Investment in Vega	564,000
Equipment (net)	972,000	730,000
Building (net)	854,000	470,000
Land	616,000	100,000
Total Assets	3,313,000	1,498,000
Liabilities	(919,000)	(563,000)
Common stock	(900,000)	(300,000)
Retained earnings, 12/31/21	(1,494,000)	(635,000)
Total liabilities and equity	(3,313,000)	(1,498,000)

Complete the following Consolidation Worksheet. Credits balances are indicated by parenthesis.

	Green	Vega	Debit Adjustments	Credit Adjustments	Balances
Revenues	(1,168,000)	(908,000)
Cost of goods sold	146,000	227,000
Depreciation expense	426,000	383,000
Investment income	(20,000)
Net income	(616,000)	(298,000)
Retained earnings, 1/1/21	(998,000)	(357,000)
Net income	(616,000)	(298,000)
Dividends paid	120,000	20,000
Retained earnings, 12/31/21	(1,494,000)	(635,000)
Current assets	307,000	198,000
Investment in Vega	564,000
Equipment (net)	972,000	730,000
Building (net)	854,000	470,000
Land	616,000	100,000
Goodwill
Total Assets	3,313,000	1,498,000
Liabilities	(919,000)	(563,000)
Common stock	(900,000)	(300,000)
Retained earnings, 12/31/21	(1,494,000)	(635,000)
Total liabilities and equity	(3,313,000)	(1,498,000)
Total consolidation adjustments			1,085,400	1,085,400