Pizza Corporation acquired 80 percent ownership of Slice Products Company on January 1, 20X1, for $151,000. On that date, the fair value of the noncontrolling interest was $37,750, and Slice reported retained earnings of $46,000 and had $95,000 of common stock outstanding. Pizza has used the equity method in accounting for its investment in Slice. Trial balance data for the two companies on December 31, 20X5, are as follows:

	Pizza Corporation						Slice Products Company
Item	Debit			Credit			Debit			Credit
Cash & Receivables	$	84,000					$	72,000
Inventory		264,000						100,000
Land		81,000						81,000
Buildings & Equipment		501,000						157,000
Investment in Slice Products Company		180,220
Cost of Goods Sold		112,000						46,000
Depreciation Expense		24,000						14,000
Inventory Losses		14,000						5,000
Dividends Declared		44,000						15,600
Accumulated Depreciation				$	198,000					$	98,000
Accounts Payable					42,000						11,000
Notes Payable					250,440						99,600
Common Stock					283,000						95,000
Retained Earnings					297,000						85,000
Sales					208,000						102,000
Income from Slice Products Company					25,780
	$	1,304,220		$	1,304,220		$	490,600		$	490,600

Additional Information

1. On the date of combination, the fair value of Slice's depreciable assets was $47,750 more than book value. The accumulated depreciation on these assets was $10,000 on the acquisition date. The differential assigned to depreciable assets should be written off over the following 10-year period.
2. There was $13,000 of intercorporate receivables and payables at the end of 20X5.

Prepare all consolidation entries needed to prepare consolidated statements for 20X5.