Pineapple Company acquired an 80% interest in Samsung Company for $272,000 cash on January 1, 2018. Samsung had the following Balance Sheet on the date of acquisition:

1. The excess of the price paid over book value is attributable to the Depreciable Fixed Assets, which have a fair value of $260,000. The Depreciable Assets have a 10 year remaining life.

2. Samsung sold a piece of Land to Pineapple for $60,000 on January 1, 2019. It cost Samsung $50,000 to purchase the land.

3. On January 1, 2020, Samsung held merchandise acquired from Pineapple for $20,000. This beginning inventory had an applicable gross profit of 40%. During 2020, Pineapple sold $60,000 worth of merchandise to Samsung. Samsung held $30,000 of this merchandise at December 31, 2020. This ending inventory and an applicable gross profit of 35%. Samsung owed Pineapple $23,000 on December 31, 2020 as a result of these intercompany sales.

4. On January 1, 2020, Pineapple held merchandise acquired from Samsung for $10,000. This beginning inventory had an applicable gross profit of 25%. During 2020, Samsung sold $40,000 worth of merchandise to Pineapple. Pineapple held $6,000 of this merchandise at December 31, 2020. This ending inventory had an applicable gross profit of 30%. Pineapple owed Samsung $11,000 on December 31, 2020 as a result of these intercompany sales.

5. On January 1, 2017, Samsung received $48,055 for $50,000 of 8%, 5 year bonds it issued when the market rate was 9%. When Pineapple purchased these bonds for $47,513 on January 1, 2019, the market rate was 10%. Both companies use the Effective Interest method to amortize the premium/discount on the bonds.

Pineapple and Samsung had the following trial balances on December 31, 2020:

Balance	Pineapple	Samsung
Accounts receivable	125,000	85,000
Inventory	6,000	30,000
Depreciation fixed assets	400,000	200,000
Accumulated depreciation	(130,000)	(40,000)
Land	60,000
Investment Subsidiary	272,000
Investment Subsidiary Bonds	49,090
Good will		10,000
Accounts Payable	(80,000)
Bonds Payable		(50,000)
Discount on Bonds Payable		459
Common Stock	(300,000)	(100,000)
Retained Earning Jan 1	(348,264)	(134,880)
Sales	(200,000)	(100,000
Expense	160,000	85,000
Interest Revenue	(4826)
Interest Expense		4,421
Dividends Income (from Subsidiary)	(8,000)
Dividends Declared		10,000
Totals	0	0

Prepare the following: a. Worksheet for Consolidated Financial Statements for the year ended December 31, 2020