On January 1, 2018, Pickle Corp. paid $80,000 to purchase 80% of the common stock of Sickle Company.

On date of the acquisition Sickle's Land was undervalued $3,800, and its Building (7 year life) was undervalued $4,200, and its Equipment (five-year life) was undervalued $2,000.

Complete the consolidation worksheet. Using the above analysis, enter the necessary 12/31/2018 consolidation entries. Enter formulas in the consolidation total column to complete the worksheet.
	12/31/2018 Pickle Company	12/31/2009 Sickle Company		Consolidation Entries			Noncontrolling	Consolidated 12/31/2018
				Debit		Credit	Interest
Income Statement
Revenues	(1,510,000)	(518,750)
Depreciation Expense	500,000	234,950
Operating Expenses	954,280	260,000
Equity in Net Income of Sub	(18,240)
Separate Net Income	(73,960)	(23,800)
Consolidated Net Income
Noncontrolling Interest in Sub's Net Income
Controlling Interest in Sub's Net Income
Statement of Retained Earnings
Retained Earnings 1/1	(122,500)	(10,500)
Net Income (above)	(73,960)	(23,800)
Dividends Declared	25,000	15,000
Retained Earnings 12/31	(171,460)	(19,300)
Balance Sheet
Current Assets	38,220	14,000
Investment in Sickle Company	86,240
Land
Buildings-net	37,500	8,650
Equipment - net	98,000	81,800
Goodwill	35,500	24,800
Total Assets	295,460	129,250
Current Liabilities	(18,340)	(24,500)
Long-term Liabilities	(26,160)	(10,950)
Common Stock	(44,500)	(20,000)
Additional Paid-in Capital	(35,000)	(54,500)
Noncontrolling Interest 1/1
Noncontrolling Interest 12/31
Retained Earnings-above	(171,460)	(19,300)
Total Liabilities & Equities	(295,460)	(129,250)