The following are preliminary financial statements for Black Co. and Blue Co. for the year ending December 31, 2009. Black Co. Blue Co.

The following are preliminary financial statements for Black Co. and Blue Co. for the year ending December 31, 2009.Black Co. Blue Co.Sales $360,000 $228,000Expenses (240,000) (240,000)Net income $120,000 $96,000Retained earning, jan. $480,000 $252,000 Net income (from above) 120,000 96,000Dividends paid (36,000) 0Retained earnings, Dec 31,2009 $564,000 $348,000Current assets $360,000 $120,000Land 120,000 108,000Building (net) 480,000 336,000Total assets $960,000 564,000Liabilities $108,000 132,000Common stock 192,000 72,000additional paid in capital 96,000 12,000Retained earninds, Dec 31,09 564,000 348,000Total liabilities and stockholders' equity $960,000 564,000On December 31, 2009 (subsequent to the preceding statements), Black exchanged 10,000 shares of its $10 par value common stock for all of the outstanding shares of Blue. Black's stock on that date has a fair value of $60 per share. Black was willing to issue 10,000 shares of stock because Blue's land was appraised at $204,000. Black also paid $14,000 to several attorneys and accountants who assisted in creating this combination. Required:Assuming that these two companies retained their separate legal identities, prepare a consolidation worksheet as of December 31, 2009.assuming the transactions is treated as an acquistion combination.