The individual financial statements for Gibson Company and Keller Company for the year ending December 31, 2021, follow. Gibson acquired a 60 percent interest in Keller on January 1, 2020, in exchange for various considerations totaling $300,000. At the acquisition date, the fair value of the noncontrolling interest was $200,000 and Kellers book value was $390,000. Keller had developed internally a customer list that was not recorded on its books but had an acquisition-date fair value of $110,000. This intangible asset is being amortized over 20 years. Gibson uses the partial equity method to account for its investment in Keller.

Gibson sold Keller land with a book value of $50,000 on January 2, 2020, for $100,000. Keller still holds this land at the end of the current year.

Keller regularly transfers inventory to Gibson. In 2020, it shipped inventory costing $112,000 to Gibson at a price of $160,000. During 2021, intra-entity shipments totaled $210,000, although the original cost to Keller was only $136,500. 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 $30,000 at the end of 2021.

	Gibson Company				Keller Company
Sales	$	(810,000	)		$	(510,000	)
Cost of goods sold		510,000				310,000
Operating expenses		110,000				30,000
Equity in earnings of Keller		(102,000	)			0
Net income	$	(292,000	)		$	(170,000	)
Retained earnings, 1/1/21	$	(1,126,000	)		$	(625,000	)
Net income (above)		(292,000	)			(170,000	)
Dividends declared		120,000				30,000
Retained earnings, 12/31/21	$	(1,298,000	)		$	(765,000	)
Cash	$	170,000			$	70,000
Accounts receivable		358,000				420,000
Inventory		400,000				330,000
Investment in Keller		771,000				0
Land		120,000				400,000
Buildings and equipment (net)		497,000				310,000
Total assets	$	2,316,000			$	1,530,000
Liabilities	$	(418,000	)		$	(355,000	)
Common stock		(600,000	)			(330,000	)
Additional paid-in capital		0				(80,000	)
Retained earnings, 12/31/21		(1,298,000	)			(765,000	)
Total liabilities and equities	$	(2,316,000	)		$	(1,530,000	)

(Note: Parentheses indicate a credit balance.)

Prepare a worksheet to consolidate the separate 2021 financial statements for Gibson and Keller.

How would the consolidation entries in requirement (a) have differed if Gibson had sold a building on January 2, 2020, with a $65,000 book value (cost of $150,000) to Keller for $110,000 instead of land, as the problem reports? Assume that the building had a 10-year remaining life at the date of transfer.