Through the payment of $$15,873,000$ in cash, Drexel Company acquires voting control over Young Company. This price is paid for $60$ percent of the subsidiary's $146,000$ outstanding common shares $($$$40$ par value$)$ as well as all $14,600$ shares of $8$ percent, cumulative, $$100$ par value preferred stock. Of the total payment, $$5\mathrm{.}4$ million is attributed to the fully participating preferred stock with the remainder paid for the common. This acquisition is carried out on January $1,2021,$ when Young reports retained earnings of $$14\mathrm{.}6$ million and a total book value of $$21\mathrm{.}9$ million. The acquisition$-$date fair value of the noncontrolling interest in Young's common stock was $$6,982,000.$ On this same date, a building owned by Young $($with a $5-$year remaining life$)$ is undervalued in the financial records by $$460,000,$ while equipment with a $10-$year remaining life is overvalued by $$340,000.$ Any further excess acquisition$-$date fair value is assigned to a brand name with a $20-$year remaining life.

During $2021,$ Young reports net income of $$1,130,000$ while declaring $$584,000$ in cash dividends. Drexel uses the initial value method to account for both of these investments.

Prepare appropriate consolidation entries for $2021.$