Pirate Corporation acquired 60 percent ownership of Ship Company on January 1, 20X8, 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 $75,000 on the acquisition date. Trial balance data at December 31, 20X9, for Pirate and Ship are as follows:

Item	Pirate Corporation	Ship Company
Debit	Credit	Debit	Credit
Cash	$ 18,000		$ 11,000
Accounts Receivable	45,000		21,000
Inventory	40,000		30,000
Buildings and Equipment	585,000		257,000
Investment in Row Company			44,000
Investment in Ship Company	116,400
Cost of Goods Sold	170,000		97,000
Depreciation Expense	30,000		10,000
Interest Expenses	8,000		3,000
Dividends Declared	40,000		20,000
Accumulated Depreciation		$ 170,000		$ 95,000
Accounts Payable		75,000		24,000
Bonds Payable		100,000		50,000
Common Stock		200,000		100,000
Retained Earnings		231,000		70,000
Accumulated Other Comprehensive Income		6,000		10,000
Other Comprehensive Income from Ship Company (OCI)Unrealized Gain on Investments		2,400
Unrealized Gain on Investments (OCI)				4,000
Sales		250,000		140,000
Income from Ship Company		18,000
	$ 1,052,400	$ 1,052,400	$ 493,000	$ 493,000

Additional Information

Ship purchased stock of Row Company on January 1, 20X8, for $30,000 and classified the investment as available-for-sale securities. The value of Rows securities increased to $40,000 and $44,000, respectively, at December 31, 20X8, and 20X9.

Required:

Record all consolidation entries needed to prepare a three-part consolidation worksheet as of December 31, 20X9.

Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.