The individual financial statements for Gibson Company and Keller Company for the year ending December 31, 2018, follow. Gibson acquired a 60 percent interest in Keller on January 1, 2017, in exchange for various considerations totaling $450,000. At the acquisition date, the fair value of the noncontrolling interest was $300,000 and Kellers book value was $590,000. Keller had developed internally a customer list that was not recorded on its books but had an acquisition-date fair value of $160,000. This intangible asset is being amortized over 20 years. Gibson sold Keller land with a book value of $75,000 on January 2, 2017, for $150,000. Keller still holds this land at the end of the current year. Keller regularly transfers inventory to Gibson. In 2017, it shipped inventory costing $126,000 to Gibson at a price of $210,000. During 2018, intra-entity shipments totaled $260,000, although the original cost to Keller was only $182,000. In each of these years, 20 percent of the merchandise was not resold to outside parties until the period following the transfer. Gibson owes Keller $35,000 at the end of 2018. Gibson Company Keller Company Sales $ (860,000 ) $ (560,000 ) Cost of goods sold 560,000 360,000 Operating expenses 160,000 55,000 Equity in earnings of Keller (87,000 ) 0 Net income $ (227,000 ) $ (145,000 ) Retained earnings, 1/1/18 $ (1,176,000 ) $ (650,000 ) Net income (above) (227,000 ) (145,000 ) Dividends declared 145,000 55,000 Retained earnings, 12/31/18 $ (1,258,000 ) $ (740,000 ) Cash $ 175,000 $ 70,000 Accounts receivable 368,000 470,000 Inventory 450,000 380,000 Investment in Keller 828,000 0 Land 170,000 450,000 Buildings and equipment (net) 502,000 360,000 Total assets $ 2,493,000 $ 1,730,000 Liabilities $ (585,000 ) $ (510,000 ) Common stock (650,000 ) (380,000 ) Additional paid-in capital 0 (100,000 ) Retained earnings, 12/31/18 (1,258,000 ) (740,000 ) Total liabilities and equities $ (2,493,000 ) $ (1,730,000 ) (Note: Parentheses indicate a credit balance.) Prepare a worksheet to consolidate the separate 2018 financial statements for Gibson and Keller. How would the consolidation entries in requirement (a) have differed if Gibson had sold a building with a $90,000 book value (cost of $200,000) to Keller for $160,000 instead of land, as the problem reports? Assume that the building had a 10-year remaining life at the date of transfer. How would the consolidation entries in requirement (a) have differed if Gibson had sold a building with a $90,000 book value (cost of $200,000) to Keller for $160,000 instead of land, as the problem reports? Assume that the building had a 10-year remaining life at the date of transfer. Prepare Entry *TA to defer the intra-entity gain as of the beginning of the year. Prepare Entry ED to remove the excess depreciation for the current year created by the transfer price.