On January 1, 2012, Aronsen Company acquired 75 percent of Siedel Company's outstanding shares. Siedel had a net book value on that date of $520,000: common stock ($10 par value) of $280,000 and retained earnings of $240,000. Aronsen paid $450,000 for this investment. The acquisition-date fair value of the 25 percent noncontrolling interest was $150,000. The excess fair value over book value associated with the acquisition was used to increase land by $38,000 and to recognize copyrights (14-year remaining life) at $42,000. Subsequent to the acquisition, Aronsen applied the initial value method to its investment account. In the 2012-2013 period, the subsidiary's retained earnings increased by $160,000. During 2014, Siedel earned income of $86,000 while declaring $26,000 in dividends. Also, at the beginning of 2014, Siedel issued 2,000 new shares of common stock for $51 per share to finance the expansiollbf its corporate facilities. Aronsen purchased none of these additional shares and therefore recorded no entry Prepare the appropriate 2014 consolidation entries for these two companies. (If no entry is required for a transactionlevent, select "No journal entry required" in the first account field.) Transaction Consolidating Entries Debit Credit (1) Prepare entry "C (2) Prepare entry C1 (3) Prepare entry S