On January 1, 2018, Jamison Company purchased 70% of the common stock of Kelly Corporation for $455,000. The non-controlling interest was valued at $195,000. The stockholders equity of both companies is as follows:

	Jamison Co.	Kelly Co.
Common Stock	300,000	200,000
Retained Earnings	400,000	450,000

The income and dividend information for both companies for 2018 is listed below.

	Jamison Co.	Kelly Co.
Net Income	145,000	70,000
Dividends	50,000	40,000

Directions: Prepare any necessary consolidation entries for 2018.