Accounting

4.2 Consolidated income statement. .d).431 ;3-4 030.4 Example: P acquired 0% fs at 1/1/2020, and the following are income statements forthe Income statement Sales Income from S Cost of goods sold "*Dep expense building Dep expense equipment Interest expense Other expenses Net income p 9523.5 571.5 (4000) (200) (700) (300) (1800) 3095 s 2200 (700) (80) (360) (140) (120) The following information related to acquisition at 1/1 2020: Inventory 100 undervalued BDL-Land 200 und rvalued -1000 unde alued Building zquipment 302.overvaIued -0 Note payable 100 undervalued 4333 Goodwill all sold in 2020 nothing sold in 2020 remaining life 40 years remaining life 5 years all mature in 2020 no impairment in 2020