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Plaza, Inc., acquires 80 percent of the outstanding common stock of Stanford Corporation on January 1, 2021, in exchange for $1,078,700 cash. At the acquisition date, Stanfords total fair value, including the noncontrolling interest, was assessed at $1,348,375. Also at the acquisition date, Stanford's book value was $531,400.

Several individual items on Stanfords financial records had fair values that differed from their book values as follows:

	Book Value				Fair Value
Trade names (indefinite life)	$	271,200			$	442,600
Property and equipment (net, 8-year remaining life)		216,800				238,400
Patent (14-year remaining life)		142,800				172,200

For internal reporting purposes, Plaza, Inc., employs the equity method to account for this investment. The following account balances are for the year ending December 31, 2021, for both companies.

	Plaza				Stanford
Revenues	$	(886,200	)		$	(660,400	)
Cost of goods sold		489,900				298,400
Depreciation expense		207,700				27,100
Amortization expense		0				21,100
Equity in income of Stanford		(247,200	)			0
Net income	$	(435,800	)		$	(313,800	)
Retained earnings, 1/1/21	$	(961,200	)		$	(399,300	)
Net income		(435,800	)			(313,800	)
Dividends declared		226,100				27,000
Retained earnings, 12/31/21	$	(1,170,900	)		$	(686,100	)
Current assets	$	648,500			$	325,600
Investment in Stanford		1,304,300				0
Trade names		181,000				271,200
Property and equipment (net)		776,800				189,700
Patents		0				121,700
Total assets	$	2,910,600			$	908,200
Accounts payable	$	(107,100	)		$	(90,000	)
Common stock		(226,200	)			(96,000	)
Additional paid-in capital		(1,406,400	)			(36,100	)
Retained earnings (above)		(1,170,900	)			(686,100	)
Total liabilities and equities	$	(2,910,600	)		$	(908,200	)

At year-end, there were no intra-entity receivables or payables.

Prepare a worksheet to consolidate the financial statements of Plaza, Inc., and its subsidiary Stanford. (For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Input all amounts as positive values.)

PLAZA CORPORATION AND STANFORD CORPORATION Consolidation Worksheet For Year Ending December 31, 2021 Consolidation Entries Noncontrolling Consolidated Accounts Plaza Stanford Debit Credit Interest Totals Revenues $(886,200) $(660,400) Cost of goods sold 489,900 298,400 Depreciation expense 207,700 27,100 Amortization expense 0 21,100 Equity in income of Stanford (247,200) 0 Net income $(435,800) $(313,800) Consolidated net income NCI share of CNI Plaza share of CNI Retained earnings, 1/1/21 $(961,200) $(399,300) Net income (435,800) (313,800) Dividends declared 226,100 27,000 Retained earnings, 12/31/21 $(1,170,900) $(686,100) Current assets $648,500 $325,600 Investment in Stanford 1,304,300 0 Tradenames 181,000 271,200 Property and equipment (net) 776,800 189,700 Patents 0 121,700 Goodwill Total assets $2,910,600 $908,200 Accounts payable (107,100) (90,000) Common stock (226,200) (96,000) Additional paid-in capital (1,406,400) (36,100) Noncontrolling interest Retained earnings, 12/31 (1,170,900) (686,100) Total liabilities and equities $(2,910,600) $(908,200) $0 $0

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