The individual financial statements for Abbey Company and Bellstar Company for the year ending December 31, 2024, follow. Abbey acquired a 60 percent interest in Bellstar on January 1, 2023, in exchange for various considerations totaling $840,000. At the acquisition date, the fair value of the noncontrolling interest was $560,000 and Bellstar's book value was $1,120,000. Bellstar had developed internally a trademark that was not recorded on its books but had an acquisition-date fair value of $280,000. This intangible asset is being amortized over 20 years. Abbey uses the partial equity method to account for its investment in Bellstar. Abbey sold Bellstar land with a book value of $90,000 on January 2, 2023, for $190,000. Bellstar still holds this land at the end of the current year. Bellstar regularly transfers inventory to Abbey. In 2023, it shipped inventory costing $198,000 to Abbey at a price of $330,000. During 2024, intra-entity shipments totaled $380,000, although the original cost to Bellstar was only $266,000. In each of these years, 20 percent of the merchandise was not resold to outside parties until the period following the transfer. Abbey owes Bellstar $50,000 at the end of 2024. Items Sales Cost of goods sold Operating expenses Equity in earnings of Bellstar Net income Retained earnings, 1/1/24 Net income (above) Dividends declared Retained earnings, 12/31/24 Cash Accounts receivable Inventory Investment in Bellstar Land Buildings and equipment (net) Total assets Liabilities Common stock Additional paid-in capital Retained earnings, 12/31/24 Total liabilities and equities Note: Parentheses indicate a credit balance. Abbey Company $ (980,000) 680,000 170,000 (93,000) $ (223,000) $ (1,296,000) (223,000) 115,000 $ (1,404,000) $ 187,000 392,000 570,000 1,011,000 150,000 514,000 $ 2,824,000 $ (650,000) (770,000) Bellstar Company $ (680,000) 480,000 45,000 0 $ (155,000) $ (710,000) (155,000) 60,000 $ (805,000) $ 90,000 590,000 500,000 0 570,000 480,000 $ 2,230,000 $ (825,000) (500,000) (100,000) (805,000) $ (2,824,000) $ (2,230,000) (1,404,000) Required: a. Prepare a worksheet to consolidate the separate 2024 financial statements for Abbey and Bellstar. b. How would the consolidation entries in requirement (a) have differed if Abbey had sold a building on January 2, 2023, with a $150,000 book value (cost of $320,000) to Bellstar for $280,000 instead of land, as the problem reports? Assume that the building had a 10-year remaining life at the date of transfer.