Plaza, Inc., acquires 80 percent of the outstanding common stock of Stanford Corporation on January 1, 2018, in exchange for $941,800 cash. At the acquisition date, Stanfords total fair value, including the noncontrolling interest, was assessed at $1,177,250. Also at the acquisition date, Stanford's book value was $546,100.

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)	$	300,900			$	360,900
Property and equipment (net, 8-year remaining life)		233,600				262,400
Patent (14-year remaining life)		120,900				154,500

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	$	(795,100	)		$	(782,600	)
Cost of goods sold		439,600				331,000
Depreciation expense		186,400				29,200
Amortization expense						23,400
Equity in income of Stanford		(314,400	)			0
Net income	$	(483,500	)		$	(399,000	)
Retained earnings, 1/1/18	$	(1,066,500	)		$	(443,000	)
Net income		(483,500	)			(399,000	)
Dividends declared		250,900				36,000
Retained earnings, 12/31/18	$	(1,299,100	)		$	(806,000	)
Current assets	$	719,400			$	361,300
Investment in Stanford		1,227,400				0
Tradenames		200,800				300,900
Property and equipment (net)		861,800				204,400
Patents		0				97,500
Total assets	$	3,009,400			$	964,100
Accounts payable	$	(118,800	)		$	(55,000	)
Common stock		(250,900	)			(90,000	)
Additional paid-in capital		(1,340,600	)			(13,100	)
Retained earnings (above)		(1,299,100	)			(806,000	)
Total liabilities and equities	$	(3,009,400	)		$	(964,100	)

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		Noncontroling	Consolidated
Accounts	Plaza	Stanford	Debit	Credit	Interest	Totals
Revenues	$(795,100)	$(782,600)
Cost of goods sold	439,600	331,000
Depreciation expense	186,400	29,200
Amortization expense	0	23,400
Equity in income of Stanford	(314,400)	0
Net income	$(483,500)	$(399,000)
Consolidated net income						$0
NCI share of CNI
Plaza share of CNI						$0
Retained earnings, 1/1	$(1,066,500)	$(443,000)
Net income	(483,500)	(399,000)
Dividends declared	250,900	36,000
Retained earnings, 12/31	$(1,299,100)	$(806,000)				$0
Current assets	$719,400	$361,300
Investment in Stanford	1,227,400	0
Tradenames	200,800	300,900
Property and equipment (net)	861,800	204,400
Patents	0	97,500
Goodwill
Total assets	$3,009,400	$964,100				$0
Accounts payable	(118,800)	(55,000)
Common stock	(250,900)	(90,000)
Additional paid-in capital	(1,340,600)	(13,100)
Noncontrolling interest
Retained earnings, 12/31	(1,299,100)	(806,000)
Total liabilities and equities