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 $570,000 cash for 60% of the outstanding common stock of Sohn. The following information about Sohn Company on January 1, 2023 was available: The fair values of Peterson's 10\% investment in Sohn and of the noncontrolling interest were $95,000 and $285,000 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