Debit Credit
Cash 115,000
Accounts Receivable 265,000
Buildings (Net, 10 year life) 1,300,000
Equipment (Net, 5 yr life) 350,000
Inventory 120,000
Land 1,000,000
Accounts Payable 125,000
Bonds Payable 1,200,000
Common Stock 100,000
Additional Paid In Capital 850,000
Retained Earnings 1/1/13 875,000

In 2013 Drew had a net income of $400,000, paid dividends of $160,000.

In 2014 Drew had a net income of $600,000, paid dividends of $260,000
Shetland acquired stock for $2,500,000 and paid cash. Equipment had a fair market value of $400,000.
Land had a fair market value of $1,100,000.

Building had a fair market value of $1,700,000.

Remaining excess was marked as Goodwill on 1/1/13.
Shetland is using the equity method.

Prepare all consolidating entries.