On January $1,2020,$ Parent, Inc., acquired a $60$ percent interest in the common stock of Subsidiary, Inc., for $$384,600.$ Subsidiary's book value on that date consisted of common stock of $$100,000$ and retained earnings of $$227,300.$ Also, the acquisition$-$date fair value of the $40$ percent noncontrolling interest was $$256,400.$ The subsidiary held patents $($with a $10-$year remaining life$)$ that were undervalued within the company's accounting records by $$78,400$ and an unrecorded customer list $(15-$year remaining life$)$ assessed at a $$54,300$ fair value. Any remaining excess acquisition$-$date fair value was assigned to goodwill. Since acquisition, Parent has applied the equity method to its Investment in Subsidiary account and no goodwill impairment has occurred. At year$-$end, there are no intra$-$entity payables or receivables.

$$

Intra$-$entity inventory sales between the two companies have been made as follows:

$$

Year

Cost to Parent

Transfer Price

to Subsidiary

Ending Balance

$($at transfer price$)$

$2020$

$$127,200$

$$159,000$

$$53,000$

$2021$

$112,500$

$150,000$

$37,500$

$$

The individual financial statements for these two companies as of December $31,2021,$ and the year then ended follow:

$$

$$

Parent, Inc.

$$

Subsidiary, Inc.

Sales

$

$(732,000$

$)$

$$

$

$(367,000$

$)$

Cost of goods sold

$$

$481,100$

$$

$224,200$

$$

Operating expenses

$$

$197,185$

$$

$76,400$

$$

Equity in earnings in Subsidiary

$$

$(34,189$

$)$

$$

$0$

$$

Net income

$

$(87,904$

$)$

$$

$

$(66,400$

$)$

Retained earnings, $1/1/21$

$

$(774,600$

$)$

$$

$

$(282,800$

$)$

Net income

$$

$(87,904$

$)$

$$

$(66,400$

$)$

Dividends declared

$$

$47,900$

$$

$18,600$

$$

Retained earnings, $12/31/21$

$

$(814,604$

$)$

$$

$

$(330,600$

$)$

Cash and receivables

$

$277,400$

$$

$

$150,500$

$$

Inventory

$$

$260,500$

$$

$131,200$

$$

Investment in Subsidiary

$$

$423,453$

$$

$0$

$$

Buildings $($net$)$

$$

$338,000$

$$

$205,300$

$$

Equipment $($net$)$

$$

$241,300$

$$

$89,100$

$$

Patents $($net$)$

$$

$0$

$$

$23,600$

$$

Total assets

$

$1,540,653$

$$

$

$599,700$

$$

Liabilities

$

$(426,049$

$)$

$$

$

$(169,100$

$)$

Common stock

$$

$(300,000$

$)$

$$

$(100,000$

$)$

Retained earnings, $12/31/21$

$$

$(814,604$

$)$

$$

$(330,600$

$)$

Total liabilities and equities

$

$(1,540,653$

$)$

$$

$

$(599,700$

$)$

$($Note: Parentheses indicate a credit balance.$)$

$$

$$

Prepare a consolidated worksheet to determine appropriate balances for external financial reporting as of December $31,2021.$