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					$	791,000
Fair value of the 30% noncontrolling interest						339,000
Wilson business fair value					$	1,130,000
Wilson book value						721,000
Excess fair value over book value					$	409,000
Assignments to adjust Wilsons assets to fair value:
To buildings (20-year remaining life)	$	139,000
To equipment (4-year remaining life)		(25,200	)
To franchises (10-year remaining life)		81,000				194,800
To goodwill (indefinite life)					$	214,200

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 $268,800, 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 $259,000. 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	$	(1,001,504	)		$	(758,680	)		$	(311,400	)
Cost of goods sold		606,000				321,000				141,000
Operating expenses		242,000				306,000				97,100
Income of Wilson Company		(92,176	)			0				0
Income of Cuddy Company		(29,320	)			(29,320	)			0
Net income	$	(275,000	)		$	(161,000	)		$	(73,300	)
Retained earnings, 1/1/21	$	(822,000	)		$	(606,000	)		$	(186,000	)
Net income (above)		(275,000	)			(161,000	)			(73,300	)
Dividends declared		100,000				96,000				50,000
Retained earnings, 12/31/21	$	(997,000	)		$	(671,000	)		$	(209,300	)
Cash and receivables	$	29,054			$	99,280			$	72,000
Inventory		416,750				349,000				128,800
Investment in Wilson Company		952,476				0				0
Investment in Cuddy Company		143,720				143,720				0
Buildings		410,000				364,000				146,000
Equipment		305,000				216,000				92,800
Land		205,000				392,000				24,700
Total assets	$	2,462,000			$	1,564,000			$	464,300
Liabilities	$	(645,000	)		$	(583,000	)		$	(105,000	)
Common stock		(820,000	)			(310,000	)			(150,000	)
Retained earnings, 12/31/21		(997,000	)			(671,000	)			(209,300	)
Total liabilities and equities	$	(2,462,000	)		$	(1,564,000	)		$	(464,300	)

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.)

\begin{tabular}{|c|c|c|c|c|c|c|c|} \hline \multicolumn{8}{|c|}{ HOUSE CORPORATION AND CONSOLIDATED SUBSIDIARIES } \\ \hline \multicolumn{8}{|c|}{ Consolidation Worksheet } \\ \hline \multicolumn{8}{|c|}{ December 31, 2021} \\ \hline \multirow[b]{2}{*}{ Accounts } & \multirow[b]{2}{*}{HouseCorporation} & \multirow[b]{2}{*}{WilsonCompany} & \multirow[b]{2}{*}{CuddyCompany} & \multicolumn{2}{|c|}{ Consolidation Entries } & \multirow{2}{*}{NoncontrollingInterest} & \multirow{2}{*}{ConsolidatedBalance} \\ \hline & & & & Debit & Credit & & \\ \hline Sales and other revenue & 1,001,504 & 758,680 & 311,400 & & & & \\ \hline Cost of goods sold & 606,000 & 321,000 & 141,000 & & & & \\ \hline Operating expenses & 242,000 & 306,000 & 97,100 & & & & \\ \hline Income of Wilson Company & 92,176 & & & & & & \\ \hline Income of Cuddy Company & 29,320 & 29,320 & & & & & \\ \hline Net income & 275,000 & 161,000 & 73,300 & & & & \\ \hline \multicolumn{8}{|l|}{ Consolidated net income } \\ \hline \multicolumn{8}{|c|}{ Net income attributable to noncontrolling interest (Wilson) } \\ \hline \multicolumn{8}{|c|}{ Net income attributable to noncontrolling interest (Cuddy) } \\ \hline \multicolumn{8}{|l|}{ Net income attributable to House Corporation } \\ \hline \multicolumn{8}{|l|}{ Retained earnings, 1/1/21 : } \\ \hline House Corporation & 822,000 & & & & & & \\ \hline Wilson Company & & 606,000 & & & & & \\ \hline Cuddy Company & & & 186,000 & & & & \\ \hline Net income & 275,000 & 161,000 & 73,300 & & & & \\ \hline \multicolumn{8}{|l|}{ Dividends declared } \\ \hline House Corporation & 100,000 & & & & & & \\ \hline Wilson Company & & 96,000 & & & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline Cuddy Company & & & 50,000 & F & & & \\ \hline Retained earnings, 12/31/21 & 997,000 & 671,000 & 209,300 & & & & \\ \hline Cash and receivables & 29,054 & 999,280 & 72,000 & & & & \\ \hline Inventory & 416,750 & 349,000 & 128,800 & & & & \\ \hline Investment in Wilson Company & 952,476 & & & & & & \\ \hline Investment in Cuddy Company & 143,720 & 143,720 & & & & & \\ \hline Buildings & 410,000 & 364,000 & 146,000 & & & & \\ \hline Equipment & 305,000 & 216,000 & 92,800 & & & & \\ \hline Land & 205,000 & 392,000 & 24,700 & & & & \\ \hline \multicolumn{8}{|l|}{ Goodwill } \\ \hline \multicolumn{8}{|l|}{ Franchise contracts } \\ \hline Total assets & 2,462,000 & 1,564,000 & 464,300 & & & & \\ \hline Liabilities & 645,000 & 583,000 & 105,000 & & & & \\ \hline \multicolumn{8}{|l|}{ Noncontrolling interest in Cuddy } \\ \hline \multicolumn{8}{|l|}{ Noncontrolling interest in Wilson } \\ \hline \multicolumn{8}{|c|}{ Noncontrolling interest in subsidiary companies } \\ \hline Common stock & 820,000 & 310,000 & 150,000 & & & & \\ \hline Retained earnings & 997,000 & 671,000 & 209,300 & & & & \\ \hline Total liabilities and equities & 2,462,000 & 1,564,000 & 464,300 & & & & \\ \hline \end{tabular}