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 $750,000. At the acquisition date, the fair value of the noncontrolling interest was $500,000 and Keller's book value was $1,000,000. Keller had developed internally a customer list that was not recorded on its books but had an acquisition-date fair value of $250,000. 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 $160,000. Keller still holds this land at the end of the current year. Keller regularly transfers inventory to Gibson. In 2020 , it shipped inventory costing $180,000 to Gibson at a price of $300,000. During 2021 , intra-entity shipments totaled $350,000, although the original cost to Keller was only $245,000. 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. (Note: Parentheses indicate a credit balance.) 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 $135,000 book value (cost of $290,000 ) to Keller for $250,000 instead of land, as the problem reports? Assume that the building had a 10-year remaining life at the date of transfer. \begin{tabular}{|c|c|c|c|c|c|c|c|c|} \hline \multirow[b]{2}{*}{ Accounts } & \multirow{2}{*}{\multicolumn{2}{|c|}{ Gibson }} & \multirow{2}{*}{\multicolumn{2}{|c|}{ Keller }} & \multicolumn{2}{|c|}{ Consolidation Entries } & \multirow[b]{2}{*}{\begin{tabular}{c} Noncontrolling \\ Interest \end{tabular}} & \multirow[b]{2}{*}{\begin{tabular}{c} Consolidated \\ Totals \end{tabular}} \\ \hline & & & & & Debit & Credit & & \\ \hline Sales & $ & (950,000) & $ & (650,000) & & & & \\ \hline Cost of goods sold & & 650,000 & & 450,000 & & & & \\ \hline Operating expenses & & 140,000 & & 30,000 & & & & \\ \hline Equity in earnings of Keller & & (102,000) & & 0 & & & & \\ \hline Separate company net income & $ & (262,000) & $ & (170,000) & & & & \\ \hline \multicolumn{9}{|l|}{ Consolidated net income } \\ \hline \multicolumn{9}{|l|}{ To noncontrolling interest } \\ \hline \multicolumn{9}{|l|}{ To Gibson Company } \\ \hline Retained earnings, 1/1/21Gibson & $ & (1,266,000) & & & & & & \\ \hline Retained earnings, 1/1/21_Keller & & & & (695,000) & & & & \\ \hline Net income & & (262,000) & & (170,000) & & & & \\ \hline Dividends declared & & 145,000 & & 45,000 & & & & \\ \hline Retained earnings, 12/31/21 & $ & (1,383,000) & $ & (820,000) & & & & \\ \hline Cash & $ & 184,000 & $ & 60,000 & & & & \\ \hline Accounts receivable & & 386,000 & & 560,000 & & & & \\ \hline Inventory & & 540,000 & & 470,000 & & & & \\ \hline Investment in Keller & & 966,000 & & & & & & \\ \hline Land & & 120,000 & & 540,000 & & & & \\ \hline Buildings and equipment (net) & & 511,000 & & 450,000 & & & & \\ \hline \multicolumn{9}{|l|}{ Customer list } \\ \hline Total assets & $ & 2,707,000 & $ & 2,080,000 & & & & \\ \hline Liabilities & $ & (584,000) & $ & (720,000) & & & & \\ \hline Common stock & & (740,000) & & (470,000) & & & & \\ \hline Additional paid-in capital & & & & (70,000) & & & & \\ \hline Retained earnings, 12/31/21 & & (1,383,000) & & (820,000) & & & & \\ \hline \multicolumn{9}{|l|}{ Noncontrolling interest 1/1/21} \\ \hline \multicolumn{9}{|l|}{ Noncontrolling interest 12/31/21 } \\ \hline Total liabilities and equity & $ & (2,707,000) & $ & (2,080,000) & & & & \\ \hline \end{tabular} Prepare Entry *TA to defer the intra-entity gain as of the beginning of the year. Note: Enter debits before credits. Prepare Entry ED to remove the excess depreciation for the current year created by the transfer price. Note: Enter debits before credits