The following are preliminary financial statements for Black Co. and Blue Co. for the year ending December 31, 2013 prior to Blacks acquisition of Blue.

	Black Co.	Blue Co.
Sales	$360,000	$228,000
Expenses	(240,000)	(132,000)
Net income	$120,000	$ 96,000
Retained earnings, January 1, 2013	$480,000	$252,000
Net income (from above)	120,000	96,000
Dividends paid	(36,000)	-0-
Retained earnings, December 31, 2013	$564,000	$348,000
Current assets	$360,000	$120,000
Land	120,000	108,000
Building (net)	480,000	336,000
Total assets	$960,000	$564,000
Liabilities	$108,000	$132,000
Common stock	192,000	72,000
Additional paid-in capital	96,000	12,000
Retained earnings, December 31,2013	564,000	348,000
Total liabilities and stockholders equity	$960,000	564,000

On December 31, 2013 (subsequent to the preceding statements), Black exchanged 10,000 shares of its $10 par value common stock for all of the outstanding shares of Blue. Black's stock on that date has a fair value of $60 per share. Black was willing to issue 10,000 shares of stock because Blue's land was appraised at $204,000. Black also paid $14,000 to several attorneys and accountants who assisted in creating this combination.

Required:

Assuming that these two companies retained their separate legal identities, prepare a consolidation worksheet as of December 31, 2013 after the acquisition transaction is completed.

			Consolidated Entries
Account	Black Company	Blue Company	DR	CR	Consolidated Balance
Income Statement
Sales
Expenses
Net Income
Statement of Retained Earnings
R/E 1/1/15
Net Income
Dividends
RE 12/31/2015
Balance Sheet
Current Assets
Investment in Blue Co.
Land
Building (net)
Goodwill
Total Assets
Liabilities
Common Stock
Additional Paid-in Capital
R/E 12/31/2015
Total Liabilities & Stockholders Equity