On January $1,2024,$ Platform Company exchanged $$1,050,000$ for $30$ percent of the outstanding voting stock of Vector Company. Especially attractive to Platform was a research project underway at Vector that would enhance both the speed and quantity of client$-$accessible data. Although not recorded in Vector$$s financial records, the fair value of the research project was considered to be $$$2,850,000.$ Also Vector possessed unpatented technology with a fair value of $$466,000.$

In contractual agreements with the sole owner of the remaining $70$ percent of Vector, Platform was granted $(1)$ various decision$-$making rights over Vector$$s operating decisions and $(2)$ special service purchase provisions at below$-$market rates. As a result of these contractual agreements, Platform established itself as the primary beneficiary of Vector. Immediately after the purchase, Platform and Vector presented the following balance sheets:

$($Note: Parentheses indicate credit balances.$)$

Accounts Platform Vector

Cash $ $66,000$ $ $46,000$

Investment in Vector $1,050,0000$

Capitalized software $986,000161,000$

Computer equipment $1,071,00061,000$

Communications equipment $921,000341,000$

Patent $0196,000$

Total assets $ $4,094,000$ $ $805,000$

Long$-$term debt $ $(946,000)$ $ $(621,000)$

Common stock$-$Platform $(2,710,000)0$

Common stock$-$Vector $0(46,000)$

Retained earnings $(438,000)(138,000)$

Total liabilities and equity $ $(4,094,000)$ $ $(805,000)$

Each of the above amounts represents a fair value at January $1,2024.$ The fair value of the $70$ percent of Vector shares not owned by Platform was estimated at $$2,450,000.$

Required:

Prepare an acquisition$-$date consolidation worksheet for Platform and its variable interest entity.

Note: 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.