On January 1, 2023, Panther, Incorporated, issued securities with a total fair value of $569,000 for 100 percent of Stark Corporation's outstanding ownership shares. Stark has long supplied inventory to Panther. The companies expect to achieve synergies with production scheduling and product development with this combination.

Although Stark's book value at the acquisition date was $329,000, the fair value of its trademarks was assessed to be $64,000 more than their carrying amounts. Additionally, Stark's patented technology was undervalued in its accounting records by $176,000. The trademarks were considered to have indefinite lives, and the estimated remaining life of the patented technology was eight years.

In 2023, Stark sold Panther inventory costing $95,000 for $190,000. As of December 31, 2023, Panther had resold 74 percent of this inventory. In 2024, Panther bought from Stark $167,000 of inventory that had an original cost of $83,500. At the end of 2024, Panther held $45,100 (transfer price) of inventory acquired from Stark, all from its 2024 purchases.

During 2024, Panther sold Stark a parcel of land for $104,900 and recorded a gain of $18,700 on the sale. Stark still owes Panther $72,800 (current liability) related to the land sale.

At the end of 2024, Panther and Stark prepared the following statements for consolidation.

Items	Panther, Incorporated	Stark Corporation
Revenues	$ (833,800)	$ (383,000)
Cost of goods sold	358,600	200,900
Other operating expenses	196,300	86,000
Gain on sale of land	(18,700)	0
Equity in Stark's earnings	(57,550)	0
Net income	$ (355,150)	$ (96,100)
Retained earnings, 1/1/24	$ (376,000)	$ (312,000)
Net income	(355,150)	(96,100)
Dividends declared	97,000	34,500
Retained earnings, 12/31/24	$ (634,150)	$ (373,600)
Cash and receivables	$ 129,000	$ 181,000
Inventory	392,900	128,900
Investment in Stark	719,000	0
Trademarks	0	67,900
Land, buildings, and equipment (net)	806,700	327,700
Patented technology	0	146,200
Total assets	$ 2,047,600	$ 851,700
Liabilities	$ (690,550)	$ (287,450)
Common stock	(400,000)	(165,000)
Additional paid-in capital	(322,900)	(25,650)
Retained earnings, 12/31/24	(634,150)	(373,600)
Total liabilities and equity	$ (2,047,600)	$ (851,700)

Required:

Show how Panther computed its $57,550 equity in Stark's earnings balance.

Prepare a 2024 consolidated worksheet for Panther and Stark.