On January 1, 2012, Cale Corp. paid $1,020,000 to acquire Kaltop Co. Kaltop maintained separate incorporation. Cale used the equity method to account for the investment. The following information is available for Kaltop's assets, liabilities, and stockholders' equity accounts on January 1, 2012: 
Kaltop earned net income for 2012 of $126,000 and paid dividends of $48,000 during the year.
At the end of 2012, the consolidation entry to eliminate Cale's accrual of Kaltop's earnings would include a credit to Investment in Kaltop Co. for
Definitions:
Carbon And Glass Fibres
Strong, lightweight materials used in composites for a variety of applications, including automotive parts, sporting goods, and aerospace components.
Depletion Time
The amount of time it takes to fully use up a particular natural resource at the current rate of consumption.
Recycling Measures
Actions and processes dedicated to collecting, processing, and converting waste materials into new products, reducing the need for raw materials and minimizing waste.
Mining
The extraction of valuable minerals or other geological materials from the Earth.
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