A clerk in the accounting department recently entered trial balance data for the parent company and its subsidiaries in the companys consolidation program. After a few minutes of additional work needed to eliminate the intercompany investment account balances, the clerk expressed his/her satisfaction with having completed the consolidation worksheet. In reviewing the printout of the consolidation worksheet, other employees raised several questions, and you have been asked to respond to them. Indicate whether each of the following questions can be answered by looking at the data in the consolidation worksheet or not, and also indicate why or why not.

1. Is it possible to tell if the parent is using the equity method in recording its ownership of each subsidiary?
2. Is it possible to tell if the correct amount of consolidated net income has been reported?
3. One of the employees thought the parent company had paid well above the fair value of net assets for a subsidiary. Is it possible to tell by reviewing the consolidation worksheet?
4. Is it possible to determine from the worksheet the percentage ownership of a subsidiary held by the parent?