Through the payment of $13,758,000 in cash, Drexel Company acquires voting control over Young Company. This price is paid for 60 percent of the subsidiary's 128,000 outstanding common shares ( $40 par value) as well as all 12.800 shares of 8 percent, cumulative, $100 par value preferred stock. Of the total payment, $4.5 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 $128 million and a total book value of $19.2 million. The acquisition-date fair value of the noncontrolling interest in Young's common stock was $6,172.000. On this same date, a bullding 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 $210,000. 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 $1,040,000 while declaring $512,000 in cash dividends. Drexel uses the initial volue 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.) Consolidation Worksheet Entries 2 Prepare a combined entry for Consolldation Entries S and A. Note: Enter debits before credits