On January 1, 2016, Alpha acquired 80 percent of Delta. Of Delta's total business fair value, $189,000 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, $151,800 of Omega's total business fair value was assigned to copyrights that had a remaining life of 12 years. Delta's book value was $575,000 on January 1, 2016 and Omega reported a book value of $189,500 on January 1, 2017.

Delta has made numerous inventory transfers to Alpha since the business combination was formed. Intra-entity gross profits of $19,700 were present in Alpha's inventory as of January 1, 2018. During the year, $238,000 in additional intra-entity sales were made with $26,180 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	$	(1,020,200	)		$	(564,310	)		$	(256,700	)		$	(1,603,210	)
Cost of goods sold		565,000				293,000				124,000				750,480
Operating expenses		335,000				139,000				56,000				552,100
Income of subsidiary		(148,800	)			(53,690	)			0				0
Separate company net income	$	(269,000	)		$	(186,000	)		$	(76,700	)
Consolidated net income													$	(300,630	)
Net income attributable to noncontrolling interest (Delta Company)														32,243
Net income attributable to noncontrolling interest (Omega Company)														19,215
Net income attributable to Alpha Company													$	(249,172	)
Retained earnings, 1/1/18	$	(815,000	)		$	(485,000	)		$	(149,500	)		$	(777,036	)
Net income (above)		(269,000	)			(186,000	)			(76,700	)			(249,172	)
Dividends declared		50,000				40,000				60,000				50,000
Retained earnings, 12/31/18	$	(1,034,000	)		$	(631,000	)		$	(166,200	)		$	(976,208	)
Cash and receivables	$	284,000			$	5,900			$	71,200			$	361,100
Inventory		327,000				457,500				170,000				928,320
Investment in Delta Company		752,000				0				0				0
Investment in Omega Company		0				292,600				0				0
Property, plant, and equipment		496,000				462,500				334,000				1,292,500
Copyrights		0				0				0				287,150
Total assets	$	1,859,000			$	1,218,500			$	575,200			$	2,869,070
Liabilities	$	(625,000	)		$	(467,500	)		$	(309,000	)		$	(1,401,500	)
Common stock		(200,000	)			(120,000	)			(100,000	)			(200,000	)
Retained earnings, 12/31/18		(1,034,000	)			(631,000	)			(166,200	)			(976,208	)
Noncontrolling interest in Delta Company, 12/31/18		0				0				0				(173,552	)
Noncontrolling interest in Omega Company, 12/31/18		0				0				0				(117,810	)
Total liabilities and equities	$	(1,859,000	)		$	(1,218,500	)		$	(575,200	)		$	(2,869,070	)

Develop the worksheet entries necessary to derive these reported balances: (

Consolidation Worksheet Entries 1 2 3 4 5 6 7 8 ..... 13 Prepare Entry *G to recognize the intra-entity gross profit in inventory in 2017. Note: Enter debits before credits. Transaction Accounts Debit Credit Record entry Clear entry view consolidation entries Consolidation Worksheet Entries 1 2 3 4 5 6 7 8 ..... 13 Prepare Entry *G to recognize the intra-entity gross profit in inventory in 2017. Note: Enter debits before credits. Transaction Accounts Debit Credit Record entry Clear entry view consolidation entries