Plaza, Inc., acquires 80 percent of the outstanding common stock of Stanford Corporation on January 1, 2018, in exchange for $1,079,300 cash. At the acquisition date, Stanfords total fair value, including the noncontrolling interest, was assessed at $1,349,125. Also at the acquisition date, Stanford's book value was $565,100.

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)	$	292,900			$	439,200
Property and equipment (net, 8-year remaining life)		241,600				260,000
Patent (14-year remaining life)		140,400				182,400

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	$	(938,600	)		$	(719,900	)
Cost of goods sold		518,900				322,400
Depreciation expense		219,900				30,200
Amortization expense						23,000
Equity in income of Stanford		(271,200	)			0
Net income	$	(471,000	)		$	(344,300	)
Retained earnings, 1/1/18	$	(1,038,800	)		$	(431,100	)
Net income		(471,000	)			(344,300	)
Dividends declared		244,500				23,000
Retained earnings, 12/31/18	$	(1,265,300	)		$	(752,400	)
Current assets	$	700,600			$	351,700
Investment in Stanford		1,332,100				0
Tradenames		195,600				292,900
Property and equipment (net)		839,500				211,400
Patents		0				117,400
Total assets	$	3,067,800			$	973,400
Accounts payable	$	(115,800	)		$	(87,000	)
Common stock		(244,500	)			(88,000	)
Additional paid-in capital		(1,442,200	)			(46,000	)
Retained earnings (above)		(1,265,300	)			(752,400	)
Total liabilities and equities	$	(3,067,800	)		$	(973,400	)

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	Consolidated
Accounts	Plaza	Stanford	Debit	Credit	Interest	Totals
Revenues	$(938,600)	$(719,900)
Cost of goods sold	518,900	322,400
Depreciation expense	219,900	30,200
Amortization expense	0	23,000
Equity in income of Stanford	(271,200)	0
Net income	$(471,000)	$(344,300)
Consolidated net income
NCI share of CNI
Plaza share of CNI
Retained earnings, 1/1	$(1,038,800)	$(431,100)
Net income	(471,000)	(344,300)
Dividends declared	244,500	23,000
Retained earnings, 12/31	$(1,265,300)	$(752,400)
Current assets	$700,600	$351,700
Investment in Stanford	1,332,100	0
Tradenames	195,600	292,900
Property and equipment (net)	839,500	211,400
Patents	0	117,400
Goodwill
Total assets	$3,067,800	$973,400
Accounts payable	(115,800)	(87,000)
Common stock	(244,500)	(88,000)
Additional paid-in capital	(1,442,200)	(46,000)
Noncontrolling interest
Retained earnings, 12/31	(1,265,300)	(752,400)
Total liabilities and equities	$(3,067,800)	$(973,400)