Through the payment of $$16,108,000$ in cash, Drexel Company acquires voting control over Young Company. This price is paid for $60$ percent of the subsidiary's $148,000$ outstanding common shares $($ $$40$ par value$)$ as well as all $14,800$ shares of $8$ percent, cumulative, $$100$ par value preferred stock. Of the total payment, $$5\mathrm{.}5$ 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 $$14\mathrm{.}8$ million and a total book value of $$22\mathrm{.}2$ million. The acquisition$-$date fair value of the noncontrolling interest in Young's common stock was $$7,072,000.$ On this same date, a building owned by Young $($with a $5-$year remaining life$)$ is undervalued in the financial records by $$480,000,$ while equipment with a $10-$year remaining life is overvalued by $$350,000.$ 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 $$1,140,000$ while declaring $$592,000$ in cash dividends. Drexel uses the initial value method to account for both of these investments.

Prepare appropriate consolidation entries for $2021.($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answers in whole dollars and not in millions.$)$

$1)$ prepare a combined entry for consolidation entries S and A

$2)$ prepare consolidation entry I$1$ for the dividneds declared on prefered stock

$3)$ prepare consolidation entry I$1$ for the dividends declared on common stock

$4)$ prepare consolidation entry E to record amorization