Peel Corporation purchased 60 percent of Split Products Companys shares on December 31, 20X7, for $216,000. At that date, the fair value of the noncontrolling interest was $144,000. On January 1, 20X9, Peel purchased an additional 20 percent of Splits common stock for $94,000. Summarized balance sheets for Split on the dates indicated are as follows:

	December 31
	20X7				20X8				20X9
Assets
Cash	$	41,000			$	71,000			$	91,000
Accounts Receivable		51,000				91,000				121,000
Inventory		72,000				102,000				162,000
Buildings & Equipment (net)		360,000				340,000				320,000
Total Assets	$	524,000			$	604,000			$	694,000
Liabilities & Equities
Accounts Payable	$	59,000			$	109,000			$	149,000
Bonds Payable		105,000				105,000				105,000
Common Stock		155,000				155,000				155,000
Retained Earnings		205,000				235,000				285,000
Total Liabilities & Equities	$	524,000			$	604,000			$	694,000

Split paid dividends of $21,000 in each of the three years. Peel uses the equity method in accounting for its investment in Split and amortizes all differentials over 10 years against the related investment income. All differentials are assigned to patents in the consolidated financial statements. Required: a. Compute the balance in Peels Investment in Split Products Company Stock account on December 31, 20X8.

b. Compute the balance in Peels Investment in Split Products Company Stock account on December 31, 20X9.

c. Prepare the consolidation entries needed as of December 31, 20X9, to complete a three-part consolidation worksheet. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)