Part b is complete. There is a period at the end of the sentence. The sentence following is irrelevant, that's part of a different question.

mon UI MUNC Company and Young Company The individual financial statements for Gibson Company and Keller Company for the year com December 31, 2018, follow. Gibson acquired a 60 percent interest in Keller on January 1, 2017 exchange for various considerations totaling $570,000. At the acquisition date, the fair value of noncontrolling interest was $380,000 and Keller's book value was $850,000. Keller had developed internally a customer list that was not recorded on its books but had an acquisition-date fair value o $100,000. This intangible asset is being amortized over 20 years. Gibson sold Keller land with a book value of $60.000 on January 2, 2017, for $100,000. Kene still holds this land at the end of the current year. Keller regularly transfers inventory to Gibson. In 2017. it shipped inventory costing $100,000 to ID son at a price of $150,000. During 2018, intra-entity shipments totaled $200,000, although the original cost to Keller was only $140,000. In each of these vears, 20 percent of the merchandise was not resold to outside parties until the period following the transfer. Gibson owes Keller $40,000 at the end of 2018. Gibson Keller Company Company Sales ....... $ (800,000) $ (500,000) Cost of goods sold ........ 500,000 300,000 Operating expenses. 100,000 60,000 Equity in earnings of Keller... (84,000) -0- Net income. $ (284,000) $ (140,000) Retained earnings, 1/1/18. $(1.116.000) $ (620,000) Net income (above). (284,000) (140,000) Dividends declared. ....... 115,000 60,000 Retained earnings, 12/31/18. $(1,285,000) $ (700,000) Cash $ 177.000 $ 90,000 Accounts receivable. 356.000 410,000 Inventory... 440,000 320,000 Investment in Keller ... 726,000 -0- Land. 180,000 390,000 Buildings and equipment (net) 496,000 300.000 Total assets. $ 2.375.000 $ 1,510,000 Liabilities. $ (480,000) $ (400,000) Common stock .. (610,000) (320,000) Additional paid-in capital. -0- (90,000) Retained earnings, 12/31/18..... (1,285,000) (700,000) Total liabilities and equities.. $(2,375,000) $(1.510,000) a. Prepare a worksheet to consolidate the separate 2018 financial statements for Gibson and Keller. b. How would the consolidation entries in requirement (a) have differed if Gibson had sold a build- ing with a $60,000 book value (cost of $140,000) to Keller for $100,000 instead of land, as the problem reports? Assume that the building had a 10-year remaining life at the date of transfer. 1 . . 9 100