Rand Corp. acquired 100% of Spaulding Inc. on December 31, 2012. Spaulding was dissolved right afterwards. Please prepare the journal entry for consolidation under two situations. Revenues Expenses Equity in subsidiary earnings Net income Retained earnings, January 1, 2012 Net income (above) Dividends paid Retained earnings, December 31, 2012 Current assets Investment in Spaulding Inc. Buildings (net) Equipment (net) Total assets Liabilities Common stock Additional paid-in capital Retained earnings, December 31, 2012 (above) Total liabilities and stockholders' equity Rand Corp. $ 372.000 (264.000) 25.000 $ 133.000 $ 765.000 133.000 (84,000) $ 814.000 $ 150,000 242,000 525,000 389.250 $1.306.250 $ 82,250 360,000 50,000 814.000 $1.306.250 Spaulding Inc. $108.000 (72,000) $ 36.000 $102.000 36,000 (24,000) $114.000 $ 22,000 0 85,000 129.000 $236.000 $ 50,000 72.000 0 114.000 $236.000