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 $450,000. At the acquisition date, the fair value of the noncontrolling interest was $300,000 and Keller's 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 uses the partial equity method to account for its investment in Keller. Gibson sold Keller land with a book value of $75,000 on January 2, 2020, for $150,000. Keller still holds this land at the end of the current year, Keller regularly transfers inventory to Gibson. In 2020, it shipped inventory costing $126,000 to Gibson at a price of $210,000. During 2021, 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 2021. Sales Cost of goods sold Operating expenses Equity in earnings of Keller Net income Retained earnings, 1/1/211 Net incone (above) Dividends declared Retained earnings, 12/31/21 Cash Accounts receivable Inventory Investment in Keller Land Buildings and equipment (net) Total assets Liabilities Common stock Additional paid-in capital Retained earnings, 12/31/21 Total liabilities and equities (Note: Parentheses indicate a credit balance.) Gibson Company Keller Company $ (860,000) $ (560,000) 560,000 160,000 (87,000) 360,000 55,000 0 $ (227,000) $ (145,000) $(1,176,000) $ (650,000) (145,000) 55,000 $ (740,000) (227,000) 145,000 $(1,258,000) $ 175,000 5 70,000 368,000 470,000 450,000 380,000 828,000 0 170,000 502,000 $ 2,493,000 $ (585,000) (650,000) (1,258,000) $(2,493,000) 450,000 360,000 $ 1,730,000 $ (510,000) (380,000) (100,000) (740,000) $(1,730,000) a. Prepare a worksheet to consolidate the separate 2021 financial statements for Gibson and Keller. b. How would the consolidation entries in requirement (a) have differed if Gibson had sold a building on January 2, 2020, 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.