0 The following information is for questions 2 through 9. Paper Company acquired 80 percent of Scissor Company's outstanding common stock for $296,000 on January 1, 20x8, when the book value of Scissor's net assets was equal to $370,000 Paper uses the equity method to account for investments. Trial balance data for Paper and Scissor as of December 31, 20x8, are as follows: Paper Company Scissor Company Debit Credit Debit Credit Cash 191.000 46,000 Accounts Receivable 140,000 60,000 Tuventory 190.000 120,000 Investment in Scitor Stock 350,400 Laad 250,000 125.000 Buildings and Equipment 375.000 250,000 Cost of Goods Sold 250,000 153,000 Depreciation Expono 65.000 12.000 Selling & Administrative Expen 280,000 50,000 Divideods Declared 30,000 25.000 Accumulated Depreciation 565,000 36,000 Accounts Payable 77,000 27,000 Bonds Payable 250,000 100,000 Common Stock 625.000 250,000 Retained Eur beginning balance) 280,000 120,000 Sales 100,000 310,000 Income from Scissor 74.400 0 Total 2.671,400 2,671,400 86,000 843,000 * Question Completion Status: 2. Calculate the balance of noncontrolling interest in net assets of Scissor on December 31, 20x8. O 350,400 O 74,000 O 296,000 O 87,600 QUESTION 4 3. Calculate noncontrolling interest in Net Income of Scissor Co for 20x8 O 5.000 O 18,600 O 13,600 QUESTION 5 4. Calculate the balance of Paper Company's Retained Earnings on December 31, 20x8 O 296,000 280.000 O 479,400 405,000 Question Completion Status: QUESTION 6 5. On the consolidated balance sheet for the year ended December 31, 20x8, what is the balance of "Investment in Scissor Co 00 O 438,000 O 350,400 O 414,000 QUESTION 7 6. What is the amount of Controlling Interest in Net Income on the consolidated income statement, ie, Consolidated Net Income attributable to Controlling Interest? O 93,000 0 298,000 O 279,400 QUESTIONS v 7. On the consolidated income statement, what is amount of COGS? 405,000 250.000 0 77.000 QUESTION 9 8. On the consolidated statement of retained earnings, what is the debit side balance of Dividends Declared? O 105,000 80,000 O 55,000 QUESTION 10 9. On the consolidated Balance Sheet, what is the credit side balance of Common Stock? O 625,000 O 250.000 O 875,000