Plaza, Inc., acquires 80 percent of the outstanding common stock of Stanford Corporation on January 1, 2018, in exchange for $1,179,200 cash. At the acquisition date, Stanfords total fair value, including the noncontrolling interest, was assessed at $1,474,000. Also at the acquisition date, Stanford's book value was $631,300.

Several individual items on Stanfords financial records had fair values that differed from their book values as follows:

	Book Value				Fair Value
Tradenames (indefinite life)	$	329,900			$	473,300
Property and equipment (net, 8-year remaining life)		259,200				288,800
Patent (14-year remaining life)		155,100				195,700

For internal reporting purposes, Plaza, Inc., employs the equity method to account for this investment. The following account balances are for the year ending December 31, 2018, for both companies.

	Plaza				Stanford
Revenues	$	(1,007,000	)		$	(823,000	)
Cost of goods sold		556,700				363,100
Depreciation expense		235,900				32,400
Amortization expense						25,900
Equity in income of Stanford		(316,000	)			0
Net income	$	(530,400	)		$	(401,600	)
Retained earnings, 1/1/18	$	(1,169,900	)		$	(485,500	)
Net income		(530,400	)			(401,600	)
Dividends declared		275,300				37,000
Retained earnings, 12/31/18	$	(1,425,000	)		$	(850,100	)
Current assets	$	788,900			$	396,000
Investment in Stanford		1,465,600				0
Tradenames		220,300				329,900
Property and equipment (net)		945,500				226,800
Patents		0				129,200
Total assets	$	3,420,300			$	1,081,900
Accounts payable	$	(130,500	)		$	(86,000	)
Common stock		(275,500	)			(76,000	)
Additional paid-in capital		(1,589,300	)			(69,800	)
Retained earnings (above)		(1,425,000	)			(850,100	)
Total liabilities and equities	$	(3,420,300	)		$	(1,081,900	)

At year-end, there were no intra-entity receivables or payables.

Prepare a worksheet to consolidate the financial statements of Plaza, Inc. and its subsidiary Stanford. (For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Amounts in the Debit and Credit columns should be entered as positive. Negative amounts for the Noncontrolling Interest and Consolidated Totals columns should be entered with a minus sign.)

PLAZA CORPORATION AND STANFORD CORPORATION Consolidation Worksheet For Year Ending December 31, 2018 Consolidation Entries Noncontrolling Interest Consolidated Plaza Stanford Debit Credit Totals $ (823,000) 363,100 32,400 25,900 1,007 Cost of goods sold Depreciation expense 556.700 235,900 Equity in income of Stanford Net income Consolidated net income NCI share of CNI Plaza share of CNI Retained earnings, 1/1 Net income Dividends declared Retained earnings, 12/31 Current assets Investment in Stanford (316,000) S (530,400) (401,600) 316,000 S (485,500) (401,600) 37,000 $ (850,100) S 788,900 S396,000 1,169,900 (530,400) 275,300 1,425,000 1,465,600 220,300 945,500 329,900 226,800 129,200 Property and equipment (net) Patents Goodwill Total assets Accounts payable Common stock Additional paid-in capital S 3,420,300 S 1,081,900 (86,000) (76,000) (69,800) (130.500) (275,500) (1.589,300) Retained earnings, 12/31 (1.425,000)(850,100) Total liabilities and equities (1,081,900)S 0 316,000 420,300 PLAZA CORPORATION AND STANFORD CORPORATION Consolidation Worksheet For Year Ending December 31, 2018 Consolidation Entries Noncontrolling Interest Consolidated Plaza Stanford Debit Credit Totals $ (823,000) 363,100 32,400 25,900 1,007 Cost of goods sold Depreciation expense 556.700 235,900 Equity in income of Stanford Net income Consolidated net income NCI share of CNI Plaza share of CNI Retained earnings, 1/1 Net income Dividends declared Retained earnings, 12/31 Current assets Investment in Stanford (316,000) S (530,400) (401,600) 316,000 S (485,500) (401,600) 37,000 $ (850,100) S 788,900 S396,000 1,169,900 (530,400) 275,300 1,425,000 1,465,600 220,300 945,500 329,900 226,800 129,200 Property and equipment (net) Patents Goodwill Total assets Accounts payable Common stock Additional paid-in capital S 3,420,300 S 1,081,900 (86,000) (76,000) (69,800) (130.500) (275,500) (1.589,300) Retained earnings, 12/31 (1.425,000)(850,100) Total liabilities and equities (1,081,900)S 0 316,000 420,300