Prime Corporation acquired 100 percent ownership of Steak Products Company on January 1, 20X1, for $210,000. On that date, Steak reported retained earnings of $54,000 and had $102,000 of common stock outstanding. Prime has used the equity-method in accounting for its investment in Steak. The trial balances for the two companies on December 31, 20X5, appear below. Item Cash & Receivables Inventory Land Buildings & Equipment Investment in Steak Products Cost of Goods Sold Depreciation Expense Inventory Losses Dividends Declared Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Sales Income from Steak Products Prime Corporation Steak Debit Credit Products Company Debit Credit $ 45,000 $ 67,000 262,000 92,000 82,000 82,000 502,000 152,000 241,400 122,000 52,000 27,000 17,000 17,000 6,600 32,000 12,000 $ 207,000 62,000 $ 109,000 22,000 204,000 47,600 302,000 102,000 326,400 92,000 202,000 108,000 27,000 $1,330,400 $1,330,400 $ 480,600 $ 480,600