The following are preliminary financial statements for Green Co. and Gold Co. for the year ending December 31, 2018 prior to Greens acquisition of Gold.

	Green Co.	Gold Co.
Sales	$360,000	$228,000
Expenses	(240,000)	(132,000)
Net income	$120,000	$ 96,000
Retained earnings, January 1, 2018	$480,000	$252,000
Net income (from above)	120,000	96,000
Dividends declared	(36,000)	-0-
Retained earnings, December 31, 2018	$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, 2018	564,000	348,000
Total liabilities and stockholders equity	$960,000	564,000

On December 31, 2018 (subsequent to the preceding statements), Green exchanged 10,000 shares of its $10 par value common stock for all of the outstanding shares of Gold. Green's stock on that date has a fair value of $60 per share. Green was willing to issue 10,000 shares of stock because Gold's land was appraised at $204,000. Green also paid $14,000 to attorneys and accountants who assisted in creating this combination.

Required: Assuming that these two companies retained their separate legal identities, prepare journal entries to reflect the acquisition and consolidation for Green.