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					$	812,000
Fair value of the 30% noncontrolling interest						348,000
Wilson business fair value					$	1,160,000
Wilson book value						792,000
Excess fair value over book value					$	368,000
Assignments to adjust Wilsons assets to fair value:
To buildings (20-year remaining life)	$	115,000
To equipment (4-year remaining life)		(32,200	)
To franchises (10-year remaining life)		51,500				134,300
To goodwill (indefinite life)					$	233,700

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	$131,250	$43,750
2020	159,375	63,750

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 $283,200, 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 $260,000. 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	$	(927,156	)		$	(813,020	)		$	(360,100	)
Cost of goods sold		571,000				389,000				183,000
Operating expenses		219,000				283,500				98,400
Income of Wilson Company		(98,364	)			0				0
Income of Cuddy Company		(31,480	)			(31,480	)			0
Net income	$	(267,000	)		$	(172,000	)		$	(78,700	)
Retained earnings, 1/1/21	$	(836,000	)		$	(606,000	)		$	(204,000	)
Net income (above)		(267,000	)			(172,000	)			(78,700	)
Dividends declared		100,000				96,000				60,000
Retained earnings, 12/31/21	$	(1,003,000	)		$	(682,000	)		$	(222,700	)
Cash and receivables	$	47,756			$	291,920			$	79,000
Inventory		417,200				332,000				187,000
Investment in Wilson Company		929,964				0				0
Investment in Cuddy Company		149,080				149,080				0
Buildings		411,000				324,000				188,000
Equipment		325,000				197,000				94,200
Land		214,000				333,000				20,500
Total assets	$	2,494,000			$	1,627,000			$	568,700
Liabilities	$	(671,000	)		$	(635,000	)		$	(196,000	)
Common stock		(820,000	)			(310,000	)			(150,000	)
Retained earnings, 12/31/21		(1,003,000	)			(682,000	)			(222,700	)
Total liabilities and equities	$	(2,494,000	)		$	(1,627,000	)		$	(568,700	)

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.)

Noncontrolling Consolidated Accounts Interest Balance Sales and other revenue HOUSE CORPORATION AND CONSOLIDATED SUBSIDIARIES Consolidation Worksheet December 31, 2021 Consolidation Entries House Wilson Cuddy Debit Credit Corporation Company Company 927,156 813,020 360,100 571,000 389,000 183,000 219,000 283,500 98,400 98,364 31,480 31,480 267,000 172,000 78,700 Cost of goods sold Operating expenses Income of Wilson Company Income of Cuddy Company Net income Consolidated net income Net income attributable to noncontrolling interest (Wilson) Net income attributable to noncontrolling interest (Cuddy) Net income attributable to House Corporation Retained earnings, 1/1/21: House Corporation Wilson Company Cuddy Company 836,000 606,000 204,000 Cuddy Company Net income 204,000 78,700 267,000 172,000 Dividends declared 100,000 96,000 1,003,000 47,756 682,000 291,920 332,000 60,000 222,700 79,000 187,000 House Corporation Wilson Company Cuddy Company Retained earnings, 12/31/21 Cash and receivables Inventory Investment in Wilson Company Investment in Cuddy Company Buildings Equipment Land Goodwill Franchise contracts 417,200 929,964 149,080 411,000 325,000 214,000 149,080 324,000 197,000 333,000 188,000 94,200 20,500 Total assets 2,494,000 671,000 1,627,000 635,000 568,700 196,000 Liabilities Noncontrolling interest in Cuddy Noncontrolling interest in Wilson 682,000 291,920 332,000 60,000 222,700 79,000 187,000 Cuddy Company Retained earnings, 12/31/21 Cash and receivables Inventory Investment in Wilson Company Investment in Cuddy Company Buildings Equipment Land 1,003,000 47,756 417,200 929,964 149,080 411,000 149,080 324,000 325,000 214,000 197,000 333,000 188,000 94,200 20,500 Goodwill Franchise contracts Total assets 2,494,000 671,000 1,627,000 635,000 568,700 196,000 Liabilities Noncontrolling interest in Cuddy Noncontrolling interest in Wilson Noncontrolling interest in subsidiary companies Common stock Retained earnings Total liabilities and equities 150,000 820,000 1,003,000 2,494,000 310,000 682,000 1,627,000 222,700 568,700