Trim Corporation acquired 100 percent of Round Corporations voting common stock on January 1, 20X2, for $405,000. At that date, the book values and fair values of Rounds assets and liabilities were equal. Round reported the following summarized balance sheet data:

Assets	$	715,000		Accounts Payable	$	102,000
				Bonds Payable		208,000
				Common Stock		120,000
				Retained Earnings		285,000
Total	$	715,000		Total	$	715,000

Round reported net income of $89,000 for 20X2 and paid dividends of $30,000.

Give the consolidation entries needed at December 31, 20X2, to prepare consolidated financial statements. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)