Police Corporation acquired 100 percent of Station Corporation's voting shares on January 1, 20X3, at underlying book value. At that date, the book values and fair values of Station's assets and liabilities were equal. Police uses the equity method in accounting for its investment in Station. Adjusted trial balances for Police and Station on December 31, 20X4, are as follows: Item Current Assets Depreciable Assets (net). Investment in Station Corporation Depreciation Expense Other Expenses Dividends Declared Current Liabilities Long-Term Debt Common Stock Retained Earnings Sales Income from Station Corporation Required: Police Corporation Debit Credit $228,000 300,000 224,000 21,000 163,000 62,000 Station Corporation Debit $158,000 Credit 226,000 11,000 88,000 22,000 $ 65,000 $ 45,000 95,000 115,000 181,000 82,000 404,000 122,000 211,000 141,000 $998,000 42,000 $998,000 $505,000 $505,000 a. Prepare the basic consolidation entry required on December 31, 20X4, to prepare consolidated financial statements. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)