On January 1, 2016, Alpha acquired 80 percent of Delta. Of Delta's total business fair value, $217,000 was allocated to copyrights with a 20-year remaining life. Subsequently, on January 1, 2017, Delta obtained 70 percent of Omega's outstanding voting shares. In this second acquisition, $171,600 of Omega's total business fair value was assigned to copyrights that had a remaining life of 12 years. Delta's book value was $577,500 on January 1, 2016 and Omega reported a book value of $179,500 on January 1, 2017. Delta has made numerous inventory transfers to Alpha since the business combination was formed. Intra-entity gross profits of $22,800 were present in Alpha's inventory as of January 1, 2018. During the year, $214,000 in additional intra-entity sales were made with $23,540 in Intra-entity gross profits in inventory remaining 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 statements for the companies for 2018 with consolidated totals. Alpha Company Delta Company Omega Company Consolidated Totals Sales $ (958,000 ) $ (669,110 ) $ (245,700 ) $ (1,658,810 ) Cost of goods sold 522,000 265,000 84,000 657,740 Operating expenses 327,000 185,000 89,000 626,150 Income of subsidiary (216,000 ) (50,890 ) 0 0 Separate company net income $ (325,000 ) $ (270,000 ) $ (72,700 ) Consolidated net income $ (374,920 ) Net income attributable to noncontrolling interest (Delta Company) 49,680 Net income attributable to noncontrolling interest (Omega Company) 17,520 Net income attributable to Alpha Company $ (307,720 ) Retained earnings, 1/1/18 $ (672,500 ) $ (487,500 ) $ (139,500 ) $ (628,892 ) Net income (above) (325,000 ) (270,000 ) (72,700 ) (307,720 ) Dividends declared 50,000 40,000 50,000 50,000 Retained earnings, 12/31/18 $ (947,500 ) $ (717,500 ) $ (162,200 ) $ (886,612 ) Cash and receivables $ 168,900 $ 183,840 $ 30,200 $ 382,940 Inventory 308,000 337,500 242,000 863,960 Investment in Delta Company 843,600 0 0 0 Investment in Omega Company 0 303,660 0 0 Property, plant, and equipment 462,000 560,000 306,000 1,328,000 Copyrights 0 0 0 327,450 Total assets $ 1,782,500 $ 1,385,000 $ 578,200 $ 2,902,350 Liabilities $ (635,000 ) $ (547,500 ) $ (316,000 ) $ (1,498,500 ) Common stock (200,000 ) (120,000 ) (100,000 ) (200,000 ) Retained earnings, 12/31/18 (947,500 ) (717,500 ) (162,200 ) (886,612 ) Noncontrolling interest in Delta Company, 12/31/18 0 0 0 (195,678 ) Noncontrolling interest in Omega Company, 12/31/18 0 0 0 (121,560 ) Total liabilities and equities $ (1,782,500 ) $ (1,385,000 ) $ (578,200 ) $ (2,902,350 ) Develop the worksheet entries necessary to derive these reported balances: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)