The partial trial balances of P Co. and S Co. at December 31, Year 10, were as follows:

P Co.

• Investment in S. Co. - Dr. 108,000
• Common shares - Cr. 152,000
• Retained earnings, begin. of yr - Cr. 117,000

S Co.

• Common shares - Cr. 76,000
• Retained earnings, begin. of yr - Cr. 48,000

Extra Information

• The investment in the shares of S Co. (a 90% interest) was acquired January 2, Year 6, for $108,000. At that time, the shareholder's equity of S Co. was common shares of $76,000 and retained earnings of $22,000 and the common shares for P Co. of $152,000
• Net incomes for the two companies for the year were as follows: P Co. - 62,000 & S Co. - 50,000
• During Year 10, sales of P Co. to S Co. were $12,000, and sales of S Co. to P Co. were $52,000. Rates of gross profit on inter-co sales in Year's 9 and 10 were 40% of sales
• On December 31, Year 9, the inventory of P Co. included $9,000 of merchandise purchased from S Co., and the inventory of S Co. included $5,000 of merchandise purchased from P Co. On December 31, Year 10, the inventory of P Co. included $22,000 of merchandise purchased from S Co., and the inventory of S Co. included $7,000 of merchandise purchased from P Co.
• During the year ended December 31, Year 10, P Co. paid dividends of $14,000 and S Co. paid dividends of $12,000
• At the time that P Co. purchased the shares of S Co., the acquisition differential was allocated to patents of S Co. These patents are being amortized for consolidation purposes over a period of 5 years
• In Year 8, land that originally cost $42,000 was sold by S Co. to P Co. for $52,200. The land is still owned by P Co.
• The corporate tax rate is 40%

Create a consolidated statement of changes in equity for the year ended December 31, Year 10, with columns for common shares, retained earnings and non controlling interest.