3Adjustments &

elimination Consolidate
P S
d statement
Debits Credits
Income statement
Sales 700,000 249,300 a 84,000 865,300
Dividend income 16,200 b 16,200 0
Interest income 2,700 c 2,700 0
Cost of sales -400,000 -149,400 d 3,500 a 84,000 -468,900
Depreciation expense -150,000 -36,000 -186,000
Operating expenses -72,600 -30,600 e 3,600 -106,800
Interest expense -2,700 c 2,700 0
NCI expense f 3,240 -3,240
Net income 90,900 36,000 100,360
Retained earnings

Retained earnings beg. 196,000 83,000 g 83,000 j 4,320 200,320

Net income 90,900 36,000 100,360

b 16,200
Dividend -50,000 -18,000 -50,000
f 1,800

Retained earnings end 236,900 101,000 250,680

Balance sheet
Cash 7,280 2,850 10,130
Accounts receivable 30,000 4,750 h 9,500 25,250
Inventories 100,000 36,200 d 3,500 132,700
Advanced to P 57,000 i 57,000 0
Land 50,000 47,500 97,500
Building -net 180,000 104,500 284,500
Equipment-net 450,000 142,500 592,500
Investment in S 229,500 j 4,320 g 237,240 0
m 3,420
g 30,600 e 3,600
Patent 30,400
k 3,400
1,046,780 395,300 1,172,980
Accounts Payable 55,880 47,500 h 9,500 93,880
Advance from S 57,000 i 57,000 0
Notes Payable 38,000 38,000
Capital stock 700,000 150,000 g 150,000 700,000
Retained earnings 236,900 101,000 250,680
Accumulated OCI -3,000 58,800 l 5,880 k 3,060 56,400
3,420
g 26,360
NCI beg 34,020
l 5,880
f 1,440
NCI end
k 340
1,046,780 395,300 460,360 460,360 1,172,980
 3Adjustments &
elimination Consolidate
P S
d statement
Debits Credits
Income statement
Sales 700,000 249,300 a 84,000 865,300
Income from S 25,660 b 25,660 0
Interest income 2,700 c 2,700 0
Cost of sales -400,000 -149,400 d 3,500 a 84,000 -468,900
Depreciation expense -150,000 -36,000 -186,000
Operating expenses -72,600 -30,600 e 3,600 -106,800
Interest expense -2,700 c 2,700 0
NCI expense f 3,240 -3,240
Net income 100,360 36,000 100,360
Retained earnings

Retained earnings beg. 200,320 83,000 g 83,000 200,320

Net income 100,360 36,000 100,360

b 16,200
Dividend -50,000 -18,000 -50,000
f 1,800

Retained earnings end 250,680 101,000 250,680

Balance sheet
Cash 7,280 2,850 10,130
Accounts receivable 30,000 4,750 h 9,500 25,250
Inventories 100,000 36,200 d 3,500 132,700
Advanced to P 57,000 i 57,000 0
Land 50,000 47,500 97,500
Building -net 180,000 104,500 284,500
Equipment-net 450,000 142,500 592,500
Investment in S 302,680 g 237,240 0
b 9,460
k 52,920
j 3,060
g 30,600 e 3,600
Patent 30,400
j 3,400
1,119,960 395,300 1,172,980
Accounts Payable 55,880 47,500 h 9,500 93,880
Advance from S 57,000 i 57,000 0
Notes Payable 38,000 38,000
Capital stock 700,000 150,000 g 150,000 700,000
Retained earnings 250,680 101,000 250,680
Accumulated OCI 56,400 58,800 k 58,800 56,400
g 26,360
NCI beg 34,020
NCI beg 34,020
k 5,880
f 1,440
NCI end
j 340
1,119,960 395,300 515,000 515,000 1,172,980