On January 1, 2021, Pace Co. acquired 80% of Sailor Co. for $192,000. Sailor reported a book value of stockholders' equity of $140,000 (including common stock of $66,000 and retained earnings of $74,000) on that date. On the acquisition date, the fair value of the 20% non-controlling interest was $48,000. On the acquisition date, a trademark (8-year remaining life) was undervalued on Sailor's records by $60,000. Any remaining excess of cost over book value is attributed to goodwill. The consolidation worksheet for the year ended December 31, 2022 (i.e. the second year) is provided below. The equity method is used by Pace. Requirement: Record the consolidation entries S, A, I, D, and E for 2022 (Year 2) in the worksheet. Place the letter before each amount. (21 points, 1.5 point each entry) Format B Accounts Sailor Co Debit Credit Revenues ($118,000 Pace Co, ($372.000) 264,000 (30,800) Amortization Expense 72,000 Equity in Subsidiary earnings 0 4 B 1 For Format U IMI Illl IMI Font Famil Accounts Debit Credit Sailor Co. ($118,000) Pace Co. (5372,000) 264,000 (30,800) (138,800) Revenues Amortization Expense Equity in Subsidiary oamings Net income 72,000 0 (46.000) Retained Eamings, 1/1/2022 Net Income Dividends declared ($789,500) (138,800) 84,000 ($112,000) (46,000) 25,000 (133,000) Retained Earnings, 12/31/2022 (844,300) Current Assets $675,000 106,000 0 Investment in Sailor Co. 227,200 Trademark 389,250 129,000 Goodwill 0 0 Total Assets $1.291,450 $235.000 Liabilities ($82,250) ($36.000 (582,250) (536,000) Non-controlling interest Common Stock (66,000 (364.900) (844.300) Retained Earnings, 12/31/2022 Total Lab. and S/E (133,000) (S235.000) ($1.291,450)