On January 1, 2023, Peterson Corporation paid $100,000 cash for 10% of the outstanding common stock of Sohn Company. On December 31, 2023, Peterson paid $576,000 cash for 60% of the outstanding common stock of Sohn. The following information about Sohn Company on January 1, 2023 was available: Book value Fair value Cash Equipment Total Accounts Payable Long-term debt Common Stock Retained Earnings Total 321,000 532,000 853,000 3,000 100,000 50,000 700,000 853,000 321,000 537,000 858,000 3,000 92,000 The fair values of Peterson's 10% investment in Sohn and of the noncontrolling interest were $96,000 and $288,000 respectively on December 31, 2023. There was no control premium. (i) Prepare the journal entries for Peterson Corporation on December 31, 2023. (ii) Prepare the working paper entries E and R (in journal entry format) for Peterson Corporation and subsidiary on December 31, 2023.