Mojito Corporation acquired $70\%$ of the outstanding stock of Emiliano, Inc., on January $1,2019,$ for $$1,260,000$ in cash. The remaining $30\%$ of Emiliano$$s stock traded actively at the same price as Mojito paid. The book value of Emiliano, Inc. at acquisition date was $$1,230,000.$ One of Emiliano$$s buildings, with a $10-$year remaining life, was undervalued in the company$$s accounting records by $$60,000.$ Also, Mojito$$s newly developed patent, with an estimated $10-$year life, was assessed to have a fair value of $$375,000.$ During subsequent years, Winnie reports the following:

Net Income Dividends

$2019$ $$175,000$ $ $90,000$

$2020$ $$200,000$ $$100,000$

$2021$ $$275,000$ $$100,000$

The financial results for December $31,2022$ are listed below for the two companies.

Mojito Emiliano

Revenues $($$$745,000)($$$495,000)$

Operating expenses $350,000200,000$

Investment income $(176,050)0$

Net income $(571,050)(295,000)$

Retained earnings, $1/1/22(1,952,800)(1,020,000)$

Net income $(571,050)(325,000)$

Dividends declared $320,00080,000$

Retained earnings $12/31/22(2,203,850)(1,535,000)$

Current assets $1,455,000950,000$

Investment in subsidiary $1,540,7000$

Land $620,000500,000$

Buildings $($net$)425,000650,000$

Total assets $4,040,7002,185,000$

Liabilities $(236,850)(295,000)$

Common stock $(500,000)(40,000)$

Additional paid$-$in$-$capital $(1,100,000)(530,000)$

Retained earnings $(2,203,850)(1,535,000)$

Total Liabilities & equities $(4,040,700)(2,185,000)$

Prepare a consolidation worksheet for this business combination.