terest Duri Sale of an Interest During Accounting Period , Upstream Building Sale the Deal net assets for preto Save the diary of isac SAA acquired for $3 .60 .0 on January 1 2014 s of Piero acquisition date were $3 800 900 . The book value identifiable Wels and liabilities of Piero SA A is the same as the fair value . The trial balance of both companies for the year ended 2014 is as follows ( in thousands ) identifiable Debits sac SAN Accounts receivable Piero SAA Inventory Land 5 200 5 700 Equipment 5 700 5 210 0 Investment in Piero SAA $2800 Cost of sales 5 3090 $ 1.400 Other expenses 5 0 5 5800 Dividends 2.800 5 700 S 200 $ 200 5 17:075 $ 9.700 Credits Accounts payable Common stock 1900 Additional- paid in capital 8 5.0 00 2000 Retained Earnings 8 50 8 0 Sales 5 2.500 $ 1800 Income from Piero SAA $ 7 , 400 $ 4, 500 8 225 Total $ 17 075 59.700 ADDITIONAL INFORMATION 1 . On March 31 , 2014 , Isac SA A sold 20 percent of its ownership in Piero SA A for $900 000 2 . On July 1 2013 , Piero SAA sold equipment to Isac SAA , with a profit of $500 000 . The equipment has remaining useful life of 5 years and 3 . The only dividend declared during the year by Piero SAA was on A on August 1 2014 4 . Piero SAA income and expenses occurred proportionately during the year EQUIRED : Prepare a workpaper to consolidate the financial statement of Isac SA A and subsidiary for the year ended December 31 , 2014