On January 1, 2020, Canyon Creek Company acquired Smoltz Corporation by issuing 50,000 shares of its $1 par common stock with a market value of $12 per share. A building on Smoltzs books was undervalued by $50,000, resulting in annual amortization of $5,000. Also, there was an unrecorded patent valued at $80,000, resulting in annual amortization of $8,000. The separate 2020 financial statements for Canyon Creek and Smuckerman are presented below.

	Canyon Creek Co.	Smuckerman Corp.
Sales revenue	$850,000	$380,000
Cost of goods sold	-505,000	-234,000
Gross profit	345,000	146,000
Operating expenses	-300,600	-26,500
Equity income	106,500	_
Net Income	$150,900	$119,500
Retained Earnings, 1/1/20	$800,000	$305,600
Net income	150,900	119,500
Dividends	-45,000	-25,000
Retained Earnings, 12/31/20	$905,900	$400,100
Cash and receivables	$250,000	$158,000
Inventory	350,000	42,600
Equity investment	681,500
Property, plant & equipment (Net)	1,165,100	474,100
Total Assets	$2,446,600	$674,700
Accounts payable	$426,000	$45,000
Accrued liabilities	54,700	28,000
Notes payable	0	125,000
Common stock	75,000	46,600
Additional paid-in capital	985,000	30,000
Retained Earnings, 12/31/20	905,900	400,100
Total Liabilities and Equities	$2,446,600	$674,700

Required: Prepare Consolidated Spreadsheet