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, 20X3, are as follows:

Item	Police Corporation	Station Corporation
Debit	Credit	Debit	Credit
Current Assets	$ 156,000		$ 116,000
Depreciable Assets (net)	344,000		231,000
Investment in Station Corporation	138,000
Depreciation Expense	24,000		14,000
Other Expenses	104,000		74,000
Dividends Declared	45,000		22,000
Current Liabilities		$ 40,000		$ 30,000
Long-Term Debt		113,000		179,000
Common Stock		192,000		84,000
Retained Earnings		222,000		34,000
Sales		202,000		130,000
Income from Station Corporation		42,000
	$ 811,000	$ 811,000	$ 457,000	$ 457,000

Required:

Prepare the consolidation entry required on December 31, 20X3, to prepare consolidated financial statements.

Prepare a three-part consolidation worksheet as of December 31, 20X3.