Plaza, Inc., acquires 80 percent of the outstanding common stock of Stanford Corporation on January 1, 2018, in exchange for $960,400 cash. At the acquisition date, Stanfords total fair value, including the noncontrolling interest, was assessed at $1,200,500. Also at the acquisition date, Stanford's book value was $511,000.

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)	$	267,600			$	391,500
Property and equipment (net, 8-year remaining life)		212,000				233,600
Patent (14-year remaining life)		127,200				169,200

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	$	(870,800	)		$	(653,600	)
Cost of goods sold		481,400				294,500
Depreciation expense		204,100				26,500
Amortization expense						20,900
Equity in income of Stanford		(244,800	)			0
Net income	$	(430,100	)		$	(311,700	)
Retained earnings, 1/1/18	$	(948,700	)		$	(393,900	)
Net income		(430,100	)			(311,700	)
Dividends declared		223,300				27,000
Retained earnings, 12/31/18	$	(1,155,500	)		$	(678,600	)
Current assets	$	639,900			$	321,300
Investment in Stanford		1,183,600				0
Tradenames		178,600				267,600
Property and equipment (net)		766,500				185,500
Patents		0				106,300
Total assets	$	2,768,600			$	880,700
Accounts payable	$	(105,700	)		$	(85,000	)
Common stock		(223,300	)			(82,000	)
Additional paid-in capital		(1,284,100	)			(35,100	)
Retained earnings (above)		(1,155,500	)			(678,600	)
Total liabilities and equities	$	(2,768,600	)		$	(880,700	)

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	$(870,800)	$(653,600)
Cost of goods sold	481,400	294,500
Depreciation expense	204,100	26,500
Amortization expense	0	20,900
Equity in income of Stanford	(244,800)	0
Net income	$(430,100)	$(311,700)
Consolidated net income						$0
NCI share of CNI
Plaza share of CNI						$0
Retained earnings, 1/1	$(948,700)	$(393,900)
Net income	(430,100)	(311,700)
Dividends declared	223,300	27,000
Retained earnings, 12/31	$(1,155,500)	$(678,600)				$0
Current assets	$639,900	$321,300
Investment in Stanford	1,183,600	0
Tradenames	178,600	267,600
Property and equipment (net)	766,500	185,500
Patents	0	106,300
Goodwill
Total assets	$2,768,600	$880,700				$0
Accounts payable	(105,700)	(85,000)
Common stock	(223,300)	(82,000)
Additional paid-in capital	(1,284,100)	(35,100)
Noncontrolling interest
Retained earnings, 12/31	(1,155,500)	(678,600)
Total liabilities and equities	$(2,768,600)	$(880,700)	$0	$0		$0