Parker acquired all of Klass common stock on January 1, 2020, in exchange for cash of $770,000. On that day, Klass reported common stock of $170,000 and retained earnings of $400,000. At the acquisition date, $64,500 of the fair-value price was attributed to undervalued land while $72,000 was assigned to undervalued equipment having a 10-year remaining life. The $63,500 unallocated portion of the acquisition-date excess fair value over book value was viewed as goodwill. Over the next few years, Parker applied the equity method to the recording of this investment. The following are individual financial statements for the year ending December 31, 2024. On that date, Klass owes Parker $11,100. Klass declared and paid dividends in the same period. Credits are indicated by parentheses. Accounts Parker Klass Revenues $(1,298,200) $ (446,500) Cost of goods sold 618,000 118,500 Depreciation expense 208,000 172,000 Equity in income of Klass (148,800) 0 Net income $ (621,000) $ (156,000) Retained earnings, 1/1/24 (1,280,000) (712,000) Net income (above) (621,000) (156,000) Dividends declared 280,000 90,000 Retained earnings, 12/31/24$(1,621,000) $ (778,000) Current assets $ 329,000 $ 344,000 Investment in Klass 1,112,000 0 Land 447,000 253,000 Buildings (net) 398,000 439,000 Equipment (net) 503,000 353,000 Goodwill 0 0 Total assets $ 2,789,000 $1,389,000 Liabilities $ (918,000) $ (441,000) Common stock (250,000) (170,000) Retained earnings(above) (1,621,000) (778,000) Total liabilities and equities$(2,789,000) $(1,389,000) Required: Prepare a consolidation worksheet for Parker and Klass for the year ending December 31, 2024. Show the consolidation entries in the appropriate form