House Corporation has been operating profitably since its creation in 1960. At the beginning of 2019, House acquired a 70 percent ownership in Wilson Company. At the acquisition date, House prepared the following fair-value allocation schedule: Consideration transferred for 70% interest in Wilson $ 728,000 Fair value of the 30% noncontrolling interest 312,000 Wilson business fair value $ 1,040,000 Wilson book value 704,000 Excess fair value over book value $ 336,000 Assignments to adjust Wilsons assets to fair value: To buildings (20-year remaining life) $ 80,000 To equipment (4-year remaining life) (32,400 ) To franchises (10-year remaining life) 63,000 110,600 To goodwill (indefinite life) $ 225,400 House regularly buys inventory from Wilson at a markup of 25 percent more than cost. House's purchases during 2019 and 2020 and related ending inventory balances follow: Year Intra-Entity Purchases Remaining Intra-Entity Inventory End of Year (at transfer price) 2019 $112,500 $37,500 2020 143,750 57,500 On January 1, 2021, House and Wilson acted together as co-acquirers of 80 percent of Cuddy Company's outstanding common stock. The total price of these shares was $267,200, indicating neither goodwill nor other specific fair-value allocations. Each company put up one-half of the consideration transferred. During 2021, House acquired additional inventory from Wilson at a price of $220,000. Of this merchandise, 45 percent is still held at year-end. Following are the financial records for the three companies for 2021. House Corporation Wilson Company Cuddy Company Sales and other revenues $ (1,078,900 ) $ (774,500 ) $ (329,600 ) Cost of goods sold 627,000 339,000 166,000 Operating expenses 247,000 292,500 93,600 Income of Wilson Company (100,100 ) 0 0 Income of Cuddy Company (28,000 ) (28,000 ) 0 Net income $ (333,000 ) $ (171,000 ) $ (70,000 ) Retained earnings, 1/1/21 $ (869,000 ) $ (596,000 ) $ (184,000 ) Net income (above) (333,000 ) (171,000 ) (70,000 ) Dividends declared 100,000 96,000 50,000 Retained earnings, 12/31/21 $ (1,102,000 ) $ (671,000 ) $ (204,000 ) Cash and receivables $ 157,900 $ 228,400 $ 89,250 Inventory 399,200 344,000 55,550 Investment in Wilson Company 902,300 0 0 Investment in Cuddy Company 141,600 141,600 0 Buildings 414,000 336,000 235,000 Equipment 376,000 160,000 92,800 Land 232,000 389,000 25,400 Total assets $ 2,623,000 $ 1,599,000 $ 498,000 Liabilities $ (701,000 ) $ (618,000 ) $ (144,000 ) Common stock (820,000 ) (310,000 ) (150,000 ) Retained earnings, 12/31/21 (1,102,000 ) (671,000 ) (204,000 ) Total liabilities and equities $ (2,623,000 ) $ (1,599,000 ) $ (498,000 ) Note: Parentheses indicate a credit balance. Prepare a consolidation worksheet for 2021. The partial equity method based on separate company incomes has been applied to each investment. (For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Input all amounts as positive values.)