Sam’s Company reported the following stockholders’ equity account balances on December 31, 2011.
Preferred stock (12%, $100 par value, call price is $105)... $100,000
Common stock, $10 par value............... 500,000
Other contributed capital—premium on issue of common stock. 160,000
Retained earnings....... 110,000
Total............. $870,000
On December 31, 2011, Peterson, Inc. acquired 60% of Sam Company’s common stock for $550,000 and 40% of its preferred stock for $55,000. The difference between the implied value of the common stock (preferred stock) and the book value is allocated entirely to land (other contributed capital and noncontrolling interest).

Required:
Prepare in general journal form the December 31, 2011, workpaper entries to eliminate the investment in common and preferred stock for each of the following independent cases:
Case 1: The preferred stock is noncumulative and nonparticipating.
Case 2: The preferred stock is cumulative and nonparticipating, and dividends were not paid in 2010 and 2011.
Case 3: The preferred stock is noncumulative and fully participating.