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ACT470-Portfolio-Option 1 Parent Income Statement: Sales Cost of Goods sold Gross profit Income (loss) from subsidiary Operating expenses Net Income Consolidated NI attrib to NCI Consolidated NI attrib to CI Consolidation Entries Dr Subsidiary 6.000.000 (4.000.000) 2.000.000 112.000 (1.500.000) 612.000 2.000.000 (1.200.000) 800.000 C (600.000) D 200.000 C 112.000 40.000 970.000 Statement of Ret Earnings: BOY retained earnings Net income Dividends EOY retained earnings 1.978.000 612.000 (190.000) 2.400.000 970.000 E 200.000 (100.000) 1.070.000 Balance Sheet: Cash Accounts receivable Inventory Equity investment 200.000 600.000 800.000 1.400.000 120.000 400.000 880.000 2.000.000 1.200.000 PPE, net Patent Goodwill Current liabilities Long-term liabilities Common stock APIC Retained earnings Noncontrolling interest 48.000 A A 80.000 160.000 5.000.000 2.600.000 500.000 1. ...
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