House Corporation has been operating profitably since its creation in 1960. At the begin...

House Corporation has been operating profitably since its creation in 1960. At the beginning of 2012, House acquired a 70 percent ownership in Wilson Company. At the acquisition date, House prepared the following fair-value allocation schedule:

On January 1, 2014, House and Wilson acted together as co-acquirers of 80 percent of Cuddy Company’s outstanding common stock. The total price of these shares was $240,000, indicating neither goodwill nor other specific fair-value allocations. Each company put up one-half of the consideration transferred. During 2014, House acquired additional inventory from Wilson at a price of $200,000. Of this merchandise, 45 percent is still held at year-end. Using the three companies’ following financial records for 2014, prepare a consolidation worksheet. The partial equity method based on separate company incomes has been applied to each investment.