Matthews Co. acquired all of the common stock of Jackson Co. on January 1, 2012. As of that date, Jackson had the following trial balance: Debit Accounts Payable Credit $ 60,000 Accounts Receivable Additional paid-in capital Buildings net (20 -year life) $ 50,00020 60,000 140,000 Cash and short-term investments 70,000 Common Stock 300,000 Equipment -net (8-year life) 240,000 Inventory 110,000 Land 90,000 Long-term liabilities (mature 12/31/14) 180,000 Retained earnings, 1/1/12 120,000 Supplies 20,000 Totals $ 720,000 $ 720,000 During 2012, Jackson reported net income of $96,000 while paying dividends of $12,000. During 2013, Jackson reported net income of $132,000 while paying dividends of $36,000. Assume that Matthews Co. acquired the common stock of Jackson Co. for $588,000 in cash. As of January 1, 2012, Jackson's land had a fair value of $102,000, its buildings were valued at $188,000, and its equipment was appraised at $216,000. Any excess of consideration transferred over fair value of assets and liabilities acquired is due to an unamortized patent to be amortized over 10 years. Matthews decided to use the equity method for this investment. Required: (A.) Prepare consolidation worksheet entries for December 31, 2012. (B.) Prepare consolidation worksheet entries for December 31, 2013. firs Kof