On January 1, 2014, Powers Company acquired 80% of the common stock of Sculley Company for $280,000. On this date Sculley had total owners' equity of $200,000 (common stock, other paid-in capital, and retained earnings of $10,000, $90,000, and $100,000 respectively). This is the only subsidiary of Powers. All book values of all identifiable assets and liabilities of Sculley were equal to their fair values except: Manufacturing equipment (depreciation expense goes to CGS) was undervalued by $45,000. The equipment has a remaining life of five years and straight-line depreciation is used. Patents worth 20,000 were not recorded. The excess to the patents is to be amortized over 20 years. On January 1, 2015, Powers held merchandise acquired from Sculley for $10,000. During 2015, Sculley sold merchandise to Powers for $50,000, $30,000 of which is still held by Powers on December 31, 2015. Sculley's usual gross profit on affiliated sales is 50%. As of December 31, 2015, Powers owed $10,000 to Scullery for merchandise purchased during 2015. On December 31, 2014, Powers sold an administrative building (depreciation expense goes to operating expense) to Sculley at a gain of $10,000. During 2015, the building was used by Sculley. Depreciation is being computed using the straight-line method, a five-year life, and no salvage value. Both companies have a calendar-year fiscal year. Assume that during 2014 and 2015, Powers has appropriately accounted for its investment in Sculley using the equity method. The balance in the equity investment account of Powers at December 31, 2014 was $298,000.

Note the following concerning the building sale:

The sale of the building is a downstream sale that occurred on the last day of 2014. Just like downstream sales of inventory, downstream sales of fixed assets do NOT impact the NCI portion of net income of the NCI balance in equity.

Complete the Excel consolidating spreadsheet for 2015 (the second year the subsidiary has been owned)