Pirate Corporation acquired $60$ percent ownership of Ship Company on January $1,2088,$ at underlying book value. At that date, the fair value of the noncontrolling interest was equal to $40$ percent of the book value of Ship Company. Accumulated depreciation on Buildings and Equipment was $$69,000$ on the acquisition date. Trial balance data at December $31,2008,$ for Pirate and Ship are as follows:

$\backslash$table$[[$Item$,$Pirate Corporation,Ship Company$],[$Accounts Receivable,$65,000,,28,000,],[$Inventory$,46,000,,36,000,],[$Investment in Row Company,,,$45,000,],[$Investment in Ship Company,$98,400,,,],[$Cost of Goods Sold,$142,000,,102,000,],[$Dividends Declared,$25,000,,27,000,],[$Accumulated Depreciation,,$$134,000,,$$$77,000],[$Accounts Payable,,$61,000,,14,000],[$Bonds Payable,,$104,400,,105,000],[$Common Stock,,$191,000,,88,000],[$Retained Earnings,,$199,000,,48,000],[\backslash$table$[[$Other Comprehensive Income from Ship Company$],[($OCI$)-$Unrealized Gain on Investments$]],,6,000,,],[,$$$951,400,$$$951,400,$$$499,000,$$$499,000]]$

Additional Information

Ship purchased stock of Row Company on January $1,208,$ for $$35,000$ and classified the investment as available$-$for$-$sale securities$.$ The value of Row's securities increased to $$45,000$ at December $31,208.$

Required:

a$.$ Record all consolidation entries needed to prepare a three$-$part consolidation worksheet as of December $31,208.$ Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

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