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 $ Fair value of the 30% noncontrolling interest Wilson business fair value Wilson book value Excess fair value over book value To buildings (20-year remaining life) To equipment (4-year remaining life) To franchises (10-year remaining life) To goodwill (indefinite life) 791,000 339,000 $ 1,130,000 $ 796,000 334,000 Assignments to adjust Wilson's assets to fair value: $ 131,000 (29,800) 78,500 179,700 $ 154,300 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 2019 2020 Intra-Entity Purchases $135,000 162,500 Remaining Intra-Entity Inventory- End of Year (at transfer price) $45,000 65,000 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 $262,400, 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 $211,000. Of this merchandise, 45 percent is still held at year-end. Following are the financial records for the three companies for 2021. House Corporation Sales and other revenues $ (980,028) $ Cost of goods sold Operating expenses Income of Wilson Company Income of Cuddy Company Net income Retained earnings, 1/1/21 Net income (above) Dividends declared 621,000 235,000 Wilson Company (877,760) 385,000 276,000 $ Cuddy Company (322,000) 147,000 96,900 (151,732) 0 0 (31,240) (31,240) 0 $ (307,000) $ (248,000) $ (78,100) $ (872,000) $ (307,000) (687,000) (248,000) $ (178,000) 100,000 96,000 (78,100) 60,000 Retained earnings, 12/31/21 $ (1,079,000) $ (839,000) $ (196,100) Cash and receivables Inventory Investment in Wilson Company $ 20,178 $ 395,150 379,560 326,000 $ 68,250 127,150 1,016,232 0 0 Investment in Cuddy Company Buildings 138,440 138,440 0 431,000 411,000 166,000 Equipment Land 386,000 142,000 93,800 208,000 363,000 18,900 Total assets $ 2,595,000 $ 1,760,000 $ 474,100 Liabilities Common stock $ Retained earnings, 12/31/21 Total liabilities and equities (696,000) (820,000) (1,079,000) $ (2,595,000) $ (611,000) (310,000) (839,000) $ (128,000) (150,000) (196,100) $ (1,760,000) $ (474,100) 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.)