On January $1,2021,$ Pikes Corporation loaned Venti Company $$322,000$ and agreed to guarantee all of Venti$$s long$-$term debt in exchange for $(1)$ decision$-$making authority over all of Venti$$s activities and $(2)$ an annual management fee of $25$ percent of Venti$$s annual revenues. As a result of the agreement, Pikes becomes the primary beneficiary of Venti $($now a variable interest entity$).$ Pikes$$ loan to Venti stipulated a $7$ percent $($market$)$ rate of interest to be paid annually with principal due in $10$ years.

On January $1,2021,$ Pikes estimated that the fair value of Venti$$s equity shares equaled $$97,000$ while Venti$$s book value was $$77,000.$ Any excess fair over book value at that date was attributed to Venti$$s trademark with an indefinite life.

Because Pikes owns no equity in Venti, all of the acquisition$-$date excess fair over book value is allocated to the noncontrolling interest.

Venti paid Pikes $25$ percent of its $2021$ revenues at the end of the year and recorded the payment in other operating expenses. Venti also paid the interest to Pikes for the loan. On December $31,2021,$ Pikes and Venti submitted the following statements for consolidation. $($Parentheses indicate credit balances.$)$

Pikes Venti

Revenues $ $(814,000)$ $ $(238,000)$

Management fee $(59,500)$

Cost of good sold $643,00091,200$

Other operating expenses $98,00066,200$

Interest income $(22,540)0$

Interest expense $041,200$

Net income $(155,040)(39,400)$

Retained earnings, $1/1(1,384,400)(62,000)$

Net income $(155,040)(39,400)$

Dividends declared $79,4000$

Retained earnings, $12/31(1,460,040)(101,400)$

Current assets $475,00095,000$

Loan receivable from Venti $322,000$

Equipment $($net$)717,000549,000$

Trademark $0147,000$

Total assets $1,514,000791,000$

Current liabilities $(3,960)(114,000)$

Loan payable to Pikes $(322,000)$

Other long$-$term debt $0(238,600)$

Common stock $(50,000)(15,000)$

Retained earnings, $12/31(1,460,040)(101,400)$

Total liabilities and equity $ $(1,514,000)$ $ $(791,000)$

Prepare the December $31,2021,$ consolidation worksheet for Pikes and its variable interest entity Venti. $($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.$)$