Padre, Incorporated, buys 80 percent of the outstanding common stock of Sierra Corporation on January 1, 2024, for $796,960 cash. At the acquisition date, Sierras total fair value, including the noncontrolling interest, was assessed at $996,200, although Sierras book value was only $623,000. Also, several individual items on Sierras financial records had fair values that differed from their book values as follows: Account Book Value Fair Value Land $ 60,600 $ 286,600 Buildings and equipment (10-year remaining life) 340,000 322,000 Copyright (20-year remaining life) 172,000 322,000 Notes payable (due in 8 years) (132,000) (116,800) For internal reporting purposes, Padre, Incorporated, employs the equity method to account for this investment. The following account balances are for the year ending December 31, 2024, for both companies. Account Padre Sierra Revenues $ (1,396,980) $ (657,250) Cost of goods sold 736,000 399,000 Depreciation expense 298,000 15,100 Amortization expense 0 8,600 Interest expense 50,100 5,550 Equity in income of Sierra (177,120) 0 Net income $ (490,000) $ (229,000) Retained earnings, 1/1/24 $ (1,380,000) $ (463,000) Net income (490,000) (229,000) Dividends declared 260,000 65,000 Retained earnings, 12/31/24 $ (1,610,000) $ (627,000) Current assets $ 854,920 $ 569,100 Investment in Sierra 922,080 0 Land 369,000 60,600 Buildings and equipment (net) 955,000 324,900 Copyright 0 163,400 Total assets $ 3,101,000 $ 1,118,000 Accounts payable $ (220,000) $ (199,000) Notes payable (521,000) (132,000) Common stock (300,000) (100,000) Additional paid-in capital (450,000) (60,000) Retained earnings (above) (1,610,000) (627,000) Total liabilities and equities $ (3,101,000) $ (1,118,000) At year-end, there were no intra-entity receivables or payables. Required: Prepare a worksheet to consolidate the financial statements of these two companies. For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Input all amounts as positive values