The individual financial statements for Gibson Company and Keller Company for the year ending December 31, 2018, follow. Gibson acquired a 60 percent interest in Keller on January 1, 2017, in exchange for various considerations totaling $1,020,000. At the acquisition date, the fair value of the noncontrolling interest was $680,000 and Keller’s book value was $1,360,000. Keller had developed internally a customer list that was not recorded on its books but had an acquisition-date fair value of $340,000. This intangible asset is being amortized over 20 years. Gibson sold Keller land with a book value of $75,000 on January 2, 2017, for $170,000. Keller still holds this land at the end of the current year. Keller regularly transfers inventory to Gibson. In 2017, it shipped inventory costing $234,000 to Gibson at a price of $390,000. During 2018, intra-entity shipments totaled $440,000, although the original cost to Keller was only $308,000. In each of these years, 20 percent of the merchandise was not resold to outside parties until the period following the transfer. Gibson owes Keller $35,000 at the end of 2018. Gibson Company Keller Company Sales $ (1,040,000 ) $ (740,000 ) Cost of goods sold 740,000 540,000 Operating expenses 120,000 75,000 Equity in earnings of Keller (75,000 ) 0 Net income $ (255,000 ) $ (125,000 ) Retained earnings, 1/1/18 $ (1,356,000 ) $ (740,000 ) Net income (above) (255,000 ) (125,000 ) Dividends declared 145,000 45,000 Retained earnings, 12/31/18 $ (1,466,000 ) $ (820,000 ) Cash $ 193,000 $ 100,000 Accounts receivable 404,000 650,000 Inventory 630,000 560,000 Investment in Keller 1,116,000 0 Land 210,000 630,000 Buildings and equipment (net) 520,000 540,000 Total assets $ 3,073,000 $ 2,480,000 Liabilities $ (777,000 ) $ (960,000 ) Common stock (830,000 ) (600,000 ) Additional paid-in capital 0 (100,000 ) Retained earnings, 12/31/18 (1,466,000 ) (820,000 ) Total liabilities and equities $ (3,073,000 ) $ (2,480,000 )

Prepare a worksheet to consolidate the separate 2018 financial statements for Gibson and Keller.

How would the consolidation entries in requirement (a) have differed if Gibson had sold a building with a $180,000 book value (cost of $380,000) to Keller for $340,000 instead of land, as the problem reports? Assume that the building had a 10-year remaining life at the date of transfer.