On January 1, 2021, Pikes Corporation loaned Venti Company $320,000 and agreed to guarantee all of Ventis long-term debt in exchange for (1) decision-making authority over all of Ventis activities and (2) an annual management fee of 25 percent of Ventis annual revenues. As a result of the agreement, Pikes becomes the primary beneficiary of Venti (now a variable interest entity). Pikes loan to Venti stipulated a 6 percent (market) rate of interest to be paid annually with principal due in 10 years.

On January 1, 2021, Pikes estimated that the fair value of Ventis equity shares equaled $95,000 while Ventis book value was $75,000. Any excess fair over book value at that date was attributed to Ventis trademark with an indefinite life.

Because Pikes owns no equity in Venti, all of the acquisition-date excess fair over book value is allocated to the noncontrolling interest.

Venti paid Pikes 25 percent of its 2021 revenues at the end of the year and recorded the payment in other operating expenses. Venti also paid the interest to Pikes for the loan. On December 31, 2021, Pikes and Venti submitted the following statements for consolidation. (Parentheses indicate credit balances.)

Revenues	$	(812,000	)		$	(236,000	)
Management fee		(59,000	)
Cost of good sold		641,000				91,000
Other operating expenses		96,000				66,000
Interest income		(19,200	)			0
Interest expense		0				41,000
Net income		(153,200	)			(38,000	)
Retained earnings, 1/1		(1,384,000	)			(60,000	)
Net income		(153,200	)			(38,000	)
Dividends declared		79,000				0
Retained earnings, 12/31		(1,458,200	)			(98,000	)
Current assets		460,000				93,000
Loan receivable from Venti		320,000
Equipment (net)		765,000				547,000
Trademark		0				145,000
Total assets		1,545,000				785,000
Current liabilities		(36,800	)			(112,000	)
Loan payable to Pikes						(320,000	)
Other long-term debt		0				(240,000	)
Common stock		(50,000	)			(15,000	)
Retained earnings, 12/31		(1,458,200	)			(98,000	)
Total liabilities and equity	$	(1,545,000	)		$	(785,000	)

Prepare the December 31, 2021, consolidation worksheet for Pikes and its variable interest entity Venti. (For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Input all amounts as positive values.)