On January 1, 2014, Pruit Company purchased 85% of the outstanding common stock of Salty Company for $525,000. On that date, Salty Company's stockholders' equity consisted of common stock, $150,000; other contributed capital, $60,000; and retained earnings, $210,000. Pruit Company paid more than the book value of net assets acquired because the recorded cost of Salty Company's land was significantly less than its fair value. During 2014 Salty Company earned $222,000 and declared and paid a $75,000 dividend. Pruit Company used the complete equity method to record its investment in Salty Company. Required: A. Prepare the investment related entries on Pruit Company's books for 2014. B. Prepare the workpaper eliminating entries for a workpaper on December 31, 2014