On January 1, 2012, Alpha acquired 80% of Delta. Of Delta's total business fair value, $125,000 was allocated to copyrights with a 20-year remaning life. Subsequently, on January 1, 2013, Delta obtained 70% of Omega's oustanding voting shares. In this second acquisition, $120,000 of Omega's total b usiness fiar valeu was assigned to copyrights that had a remaining life of 12 yeras. Delta's book value was $490,000 on January 1, 2012 on january 1, 2012 and Omega reported a book value of $140,000 on January 1, 2013.

Delta has made numerous inventory transfers to Alpha since the business combination was formed. Unrealized gross profits of $15,000 were present in Alpha's invventory as of January 1, 2014. During the year, $200,000 in additional intra-entity sales were made with $22,000 in gross prfoits remaining unrealized at the end of the period.

Both Alpha and Delta utilized the partial equity method to account for their investment balances.

Following are the individual financial statemnts for the companies for 2014 with consolidated totals.

REQUIRED

Develop the worksheet entries necessary to derive these reported balances.

	Alpha Co.	Delta Co.	Omega Co.	Consolidated totals
Sales	(900,000)	(500,000)	(200,000)	(1,400,000)
COGS	500,000	240,000	80,000	627,000
Op.expenses	294,000	129,000	50,000	489,250
Subsidiary income	(144,000)	(49,000)	-	-
Separate net income	(250,000)	(180,000)	(70,000)
Consolidated net income				(283,750)
Noncontrolling interest net income - Delta				31,950
Noncontrolling interest net income - Omega				18,000
Parent net income - Alpha				(233,800)
Retained earnings, 1/1/14	(600,000)	(400,000)	(100,000)	(572,400)
Net income (above)	(250,000)	(180,000)	(70,000)	(233,800)
Dividends declared	50,000	40,000	50,000	50,000
Retained earnings, 12/31/14	(800,000)	(540,000)	(120,000)	(756,200)
Cash/receivables	262,000	206,000	70,000	538,000
Inventory	290,000	310,000	160,000	738,000
Delta Co. Investment	628,000	-	-	-
Omega Co. Investment	-	238,000	-	-
Property, plant, equip	420,000	316,000	270,000	1,006,000
Copyrights	-	-	-	206,250
Total assets	1,600,000	1,070,000	500,000	2,488,250
Liabilities	(600,000)	(410,000)	(280,000)	(1,290,000)
Common stock	(200,000)	(120,000)	(100,000)	(200,000)
Retained earnings, 12/31/14	(800,000)	(540,000)	(120,000)	(756,200)
Noncontrolling interest investment in Delta Co. - 12/31/14	-	-	-	(146,050)
Noncontrolling interest investment in Omega Co. - 12/31/14	-	-	-	(96,000)
Total liabilites/owners' equity	(1,600,000)	(1,070,000)	(500,000)	(1,070,000)