Nascent, Inc., acquires 60 percent of Sea-Breeze Corporation for $414,000 cash on January 1, 2012. The remaining 40 percent of the Sea-Breeze shares traded near a total value of $276,000 both before and after the acquisition date. On January 1, 2012, Sea-Breeze had the following assets and liabilities: Book Value Fair Value Current assets $ 150,000 $ 150,000 Land 200,000 200,000 Buildings (net) (6-year life) 300,000 360,000 Equipment (net) (4-year life) 300,000 280,000 Patent (10-year life) 0 100,000 Liabilities (400,000 ) (400,000 The companies financial statements for the year ending December 31, 2015, follow: Nascent Sea-Breeze Revenues $ (600,000 ) $ (300,000 ) Operating expenses 410,000 210,000 Investment income (42,000 ) 0 Net income $ (232,000 ) $ (90,000 ) Retained earnings, 1/1/15 $ (700,000 ) $ (300,000 ) Net income (232,000 ) (90,000 ) Dividends declared 92,000 70,000 Retained earnings, 12/31/15 $ (840,000 ) $ (320,000 ) Current assets $ 330,000 $ 100,000 Land 220,000 200,000 Buildings (net) 700,000 200,000 Equipment (net) 400,000 500,000 Investment in Sea-Breeze 414,000 0 Total assets $ 2,064,000 $ 1,000,000 Liabilities $ (500,000 ) $ (200,000 ) Common stock (724,000 ) (480,000 ) Retained earnings, 12/31/15 (840,000 ) (320,000 ) Total liabilities and equities $ (2,064,000 ) $ (1,000,000 ) Required: Prepare a consolidated worksheet for these companies.