Tyler Company acquired all of Jasmine Company’s outstanding stock on January 1, 2009, for $206,000 in cash. Jasmine had a book value of only $140,000 on that date. However, equipment (having an eight-year life) was undervalued by $54,400 on Jasmine’s financial records. A building with a 20-year life was overvalued by $10,000. Subsequent to the acquisition, Jasmine reported the following:

Net Dividends Income Paid LO1 2009 .. $50,000 $10,000 2010..... 60,000 40,000 2011... 30,000 20,000 In accounting for this investment, Tyler has used the equity method. Selected accounts taken from the financial records of these two companies as of December 31, 2011, follow:

Tyler Jasmine Company Company Revenues—operating.. . . . .

$(310,000)

$(104,000)

Expenses..

198,000 74,000 Equipment (net) ..... . .

320,000 50,000 Buildings(net)...

220,000 68,000 Common stock..

(290,000)

(50,000)

Retained earnings, 12/31/11 balance ........

(410,000)

(160,000)

Determine and explain the following account balances as of December 31, 2011:

a. Investment in Jasmine Company (on Tyler’s individual financial records).

b. Equity in Subsidiary Earnings (on Tyler’s individual financial records).

c. Consolidated Net Income.

d. Consolidated Equipment (net).

e. Consolidated Buildings (net).

f. Consolidated Goodwill (net).
g. Consolidated Common Stock.
/;. Consolidated Retained Earnings, 12/31/11.