On January 1, 20X9, Zigma Company acquired 100 percent of Standard Company's common shares at underlying book value. Zigma uses the equity method in accounting for its ownership of Standard. On December 31, 20X9, the trial balances of the two companies are as follows:

	Zigma Co.		Standard Co.
Item	Debit	Credit	Debit	Credit
Current Assets	$238,000		$95,000
Depreciable Assets	300,000		170,000
Investment in Standard Co.	100,000
Other Expenses	90,000		70,000
Depreciation Expense	30,000		17,000
Dividends Declared	32,000		10,000
Accumulated Depreciation		$120,000		$85,000
Current Liabilities		50,000		30,000
Long-Term Debt		120,000		50,000
Common Stock		100,000		50,000
Retained Earnings		175,000		35,000
Sales		200,000		112,000
Income from Standard Co.		25,000
	$790,000	$790,000	$362,000	$362,000

Required: 1. Prepare the consolidation entries needed as of December 31, 20X9, to complete a consolidation worksheet. 2. Prepare a three-part consolidation worksheet as of December 31, 20X9.