On January 1, 2018, Wrecker Co. acquired 70% of Donald Inc. by paying $650,000. This included a $20,000 control premium.Donald reported common stock on that date of $420,000 with retained earnings of $252,000. A building was undervalued in the company's financial records by $28,000. This building had a ten-year remaining life. Copyrights of $80,000 were to be recognized and amortized over 20 years.

Donald earned income and paid cash dividends as follows:

Net IncomeDividends Paid2018$105,000$54,6002019134,40061,6002020154,00084,000

On December 31, 2020, Wrecker owed $30,800 to Carper. There have been no changes in Wrecker's common stock account since the acquisition.

Required:

If the equity method had been applied by Wrecker for this acquisition, what were the consolidation entries needed as of December 31, 2020?