Plaza, Inc., acquires 80 percent of the outstanding common stock of Stanford Corporation on January 1, 2018, in exchange for $862000 cash. At the acquisition date, Stanford's total fair value, including the noncontrolling interest, was assessed at $1,077,500. Also at the acquisition date, Stanford's book value was $533,900. Several individual items on Stanford's financial records had fair values that differed from their book values as follows: Book Value $ 273,900 208,800 Fair Value 228,800 109,200142,800 Tradenames (indefinite life) Property and equipment (net, 8-year remaining life) Patent (14-year remaining life) $ 412,700135,800 2o,000 2500 8000-20, OOD /tyR For internal reporting purposes, Plaza, Inc, employs the equity method to account for this investment. The following account balances are ending December 31, 2018, for both companies. t. The following account balances are for the year Plaza Stanford Revenues Cost of goods sold Depreciation expense Amortization expense Equity in income of Stanford s (714,600) (669,900) 285,500 26,100 20,400 406,900 182,400 Net income s (337,900) Retained eamings, 1/1/18 Net income Dividends declared $ (1,032,300) (482,600) (337,900) 25,000 (391,700) 229,400 Retained eamings, 12/31/18 $ (1,194,600) (795,500) 333,400 S 627,700 1,108,400 Current assets Investment in Stanford Tradenames Property and equipment (net) Patents 273,900 182,700 88,800 175,600 740,500 $2,652,200 878,800 Total assets Accounts payable Common stock Additional paid-in capital Retained eamings (above) (104,200) (32,000) (50,000) (1,300) (217,200) (1,136,200) (1.194,600) (95,500) $ (2,652,200) (878,800) Total liabilities and equities 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.) 138,800