Vaden Company obtained all of William Co.'s common stock on January 1, 2021 by paying $652,000 in cash. As of that date, Williams had the following trial balance: At that date William's land had a fair value of $98,000, its buildings were valued at $175,000 and its equipment was appraised at $210,000. Any excess of consideration transferred over fair value of assets and liabilities acquired is due to goodwill. During 2021, William reported net income of $112,000 while paying dividends of $32,000. Vaden used the equity method to account for its investment. Required: Prepare the consolidation worksheet entries for December 31, 2021. Vaden Company obtained all of William Co.'s common stock on January 1, 2021 by paying $652,000 in cash. As of that date, Williams had the following trial balance: At that date William's land had a fair value of $98,000, its buildings were valued at $175,000 and its equipment was appraised at $210,000. Any excess of consideration transferred over fair value of assets and liabilities acquired is due to goodwill. During 2021, William reported net income of $112,000 while paying dividends of $32,000. Vaden used the equity method to account for its investment. Required: Prepare the consolidation worksheet entries for December 31, 2021