this is all the info given

this is all the info given

House Corporation has been operating profitably since its creation in 1960. At the beginning of 2016, House acquired a 70 percent ownership in Wilson Company. At the acquisition date, House prepared the following fair-value allocation schedule: $ Consideration transferred for 708 interest in Wilson Fair value of the 308 noncontrolling interest wilson business fair value Wilson book value Excess fair value over book value Assignments to adjust Wilson's assets to fair value: To buildings (20-year remaining life) To equipment (4-year remaining life) To franchises (10-year remaining life) To goodwill (indefinite life) 843,500 361,500 $ 1,205,000 821,000 $ 384,000 $ 156,000 (33,000) 49,000 172,000 212,000 $ House regularly buys inventory from Wilson at a markup of 25 percent more than cost. House's purchases during 2016 and 2017 and related ending Inventory balances follow: Year 2016 2017 Intra-Entity Purchases $90,000 125,000 Remaining Intra-Entity Inventory- End of Year (at transfer price) $30,000 50,000 On lanuary 1 2018 House and Wilson arteritonether as n acuiors of RO nercent of Curdy Company's outstanding common stock On January 1, 2018, House and Wilson acted together as co-acquirers of 80 percent of Cuddy Company's outstanding common stock. The total price of these shares was $256,800, indicating neither goodwill nor other specific fair-value allocations. Each company put up one-half of the consideration transferred. During 2018, House acquired additional Inventory from Wilson at a price of $278,000. Of this merchandise, 45 percent is still held at year-end. $ Sales and other revenues Cost of goods sold Operating expenses Income of Wilson Company Income of Cuddy Company Net income Retained earnings, 1/1/18 Net Income (above) Dividends declared Retained earninge, 12/31/18 Cash and receivables Inventory Investment in Wilson Company Investment in Cuddy Company Buildings Equipment Land Total assets Liabilities House Corporation $ (945,600) 573,000 287,000 (141,400) (30,000) $ (257,000) $ (892,000) (257,000) 100,000 $ (1.049,000) $ 23,000 425,300 1,028,300 134,400 441,000 367,000 261,000 $ 2,680,000 $ (693,000) Wilson Company $ (884,500) 384,000 298,500 0 (30,000) $ (232,000) $ (669,000) (232,000) 96,000 $ (805,000) $ 352,600 398,000 Cuddy Company (363, 400) 196,000 92,400 0 0 (75,000) (171,000) (75,000) 60,000 (186,000) 68,250 85,950 0 0 171,000 89,300 23,500 438,000 (102,000) $ $ 134,400 382,000 132,000 340,000 $ 1,739,000 $ (624,000) $ $ 60,000 $ . (186,000) $ 68,250 85,950 0 0 Dividends declared Retained earnings, 12/31/18 Cash and receivables Inventory Investment in Wilson Company Investment in Cuddy Company Buildings Equipment Land Total assets Liabilities Common stock Retained earnings, 12/31/18 Total liabilities and equities 100,000 $ (1,049,000) $ 23,000 425,300 1,028,300 134,400 441,000 367,000 261,000 $ 2,680,000 $ (693,000) (820,000) (1,049,000) $ (2,562,000) 96,000 (805,000) $ 352,600 398,000 0 134,400 382,000 132,000 340,000 $ 1,739,000 $ (624,000) (310,000) (805,000) $ (1,739,000) $ 171,000 89,300 23,500 438,000 (102,000) (150,000) (186,000) (438,000) $ $ Note: Parentheses-indicate a credit balance. Using the three companies' following financial records for 2018, prepare a consolidation worksheet. The partial equity method based on separate company incomes has been applied to each investment (For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Amounts in the Debit and Credit columns should be entered as positive. Negative amounts for the Noncontrolling Interest and Consolidated Totals columns should be entered with a minus sign.) Noncontrolling Consolidated Interest Balance HOUSE CORPORATION AND CONSOLIDATED SUBSIDIARIES Consolidation Worksheet December 31, 2018 Consolidation Entries House Wilson Accounts Cuddy Debit Credit Corporation Company Company ales and other revenue (945,600) (884,500) (363,400) ost of goods sold 573,000 384,000 196.000 perating expenses 287,000 298,500 92,400 come of Wilson Company (141,400) come of Cuddy Company (30,000) (30,000) Net income (257,000) (232,000) (75,000) onsolidated net income et income attributable to noncontrolling interest (Wilson) et income attributable to noncontrolling interest (Cuddy) et income attributable to House Corporation etained earnings, 1/1/18: House Corporation (892,000) Wilson Company (669,000) Cuddy Company (171,000) 0 0 B. 96,000 Wilson Company Cuddy Company etained earnings, 12/31/18 ash and recelvables 0 (805,000) 352,600 398,000 60,000 (186,000) 68,250 85,950 (1,049,000) 23,000 425,300 1,028,300 134.400 441.000 367,000 261,000 134,400 382,000 132,000 340,000 171,000 89,300 23,500 ventory vestment in Wilson Company vestment in Cuddy Company uildings quipment and oodwill anchise contracts stal assets abilities oncontrolling interest in Cuddy oncontroling interest in Wilson oncontrolling interest in subsidiary companies ommon stock etained earnings (above) stal liabilities and equities 0 2,680,000 (693,000) 1,739,000 (624,000) 438.000 (102,000) (820,000) (1,049,000) (2,562,000) (310,000) (805,000) (1.739,000) (150,000) (186,000) (438,000) 0