P 6-2 Upstream and Downstream Sale of Depreciable Asset Jenna OYJ was a 90 percent-owned subsidiary of Mikko OYJ, which was acquired in 2012. At the ac- quisition date, any fair value/book value differences are due to goodwill. The separate trial balance for both companies for the year ended in 2014 is as follows: Jenna OY.J $ 800 S 400 S 800 S 300 s 1,400 S 2,000 0 $ 3,500 S 800 S 200 $ 10,200 Debits Mikko OY Cash Accounts receivable Inventory Land Equipment-net Building-net Investment in Jenna OYJ Cost of sales Other expenses Dividends s 1,000 $ 1.200 $ 1,400 S 600 $ 1,900 $ 3,000 S 2,790 S 5,000 S 1,000 s 500 $ 18,390 Total Credits Accounts payable Common stock Retained Eamings Sales Gain on sale of equipment Gain on sale of building $ 1,300 S 6,000 S 3,290 s 7,300 S 0 S 500 18,390 S 1,000 s 2,000 $ 1,000 S 6,000 s 200 0. Total ADDITIONAL INFORMATION 1. In 2013, Jenna OYJ sold $900.000 of inventories to Mikko OYJ with $200,000 unrealized profit included in the ending inventories. 2. On January 1, 2014, Jenna OYJ sold Equipment with book value of $1,000,000 to Mikko OYJ for $1,200,000. The equipment had remaining useful life of 4 years. Mikko OYJ depreciated the equipment using straight-line method 3. On December 31, 2014, Jenna OYJ acquired Building from Mikko OYJ for $2,000,000. At that date, the building has book value of $1,500,000 and remaining useful life of 20 years. Jenna OYJ depreciated the building using straight-line method. EQUIRED: Prepare the consolidation workpapers for Mikko OYJ and subsidiary for the year ended ecember 31, 2014