Plaza, Inc., acquires 80 percent of the outstanding common stock of Stanford Corporation on January 1, 2021, in exchange for $1,116,600 cash. At the acquisition date, Stanfords total fair value, including the noncontrolling interest, was assessed at $1,395,750. Also at the acquisition date, Stanford's book value was $586,300.

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

	Book Value				Fair Value
Trade names (indefinite life)	$	300,700			$	452,800
Property and equipment (net, 8-year remaining life)		230,400				262,400
Patent (14-year remaining life)		149,900				184,900

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, 2021, for both companies.

	Plaza				Stanford
Revenues	$	(951,600	)		$	(740,500	)
Cost of goods sold		526,100				330,800
Depreciation expense		223,100				28,800
Amortization expense		0				23,400
Equity in income of Stanford		(280,800	)			0
Net income	$	(483,200	)		$	(357,500	)
Retained earnings, 1/1/21	$	(1,065,800	)		$	(442,600	)
Net income		(483,200	)			(357,500	)
Dividends declared		250,800				40,000
Retained earnings, 12/31/21	$	(1,298,200	)		$	(760,100	)
Current assets	$	718,900			$	361,000
Investment in Stanford		1,365,400				0
Trade names		200,600				300,700
Property and equipment (net)		860,900				201,600
Patents		0				126,500
Total assets	$	3,145,800			$	989,800
Accounts payable	$	(118,700	)		$	(86,000	)
Common stock		(250,700	)			(86,000	)
Additional paid-in capital		(1,478,200	)			(57,700	)
Retained earnings (above)		(1,298,200	)			(760,100	)
Total liabilities and equities	$	(3,145,800	)		$	(989,800	)

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. Input all amounts as positive values.)

PLAZA CORPORATION AND STANFORD CORPORATION
Consolidation Worksheet
For Year Ending December 31, 2021
			Consolidation Entries		Noncontrolling	Consolidated
Accounts	Plaza	Stanford	Debit	Credit	Interest	Totals
Revenues	$(951,600)	$(740,500)				$(1,692,100)
Cost of goods sold	526,100	330,800				856,900
Depreciation expense	223,100	28,800
Amortization expense	0	23,400
Equity in income of Stanford	(280,800)	0	280,800
Net income	$(483,200)	$(357,500)
Consolidated net income
NCI share of CNI
Plaza share of CNI
Retained earnings, 1/1/21	$(1,065,800)	$(442,600)	442,600			$(1,065,800)
Net income	(483,200)	(357,500)
Dividends declared	250,800	40,000				250,800
Retained earnings, 12/31/21	$(1,298,200)	$(760,100)
Current assets	$718,900	$361,000
Investment in Stanford	1,365,400	0
Tradenames	200,600	300,700
Property and equipment (net)	860,900	201,600
Patents	0	126,500
Goodwill
Total assets	$3,145,800	$989,800
Accounts payable	(118,700)	(86,000)				(204,700)
Common stock	(250,700)	(86,000)	86,000			250,700
Additional paid-in capital	(1,478,200)	(57,700)				(1,478,200)
Noncontrolling interest
Retained earnings, 12/31	(1,298,200)	(760,100)
Total liabilities and equities	$(3,145,800)	$(989,800)	$809,400	$0