Accounts Sales Gibson (1,030,000) Keller (730,000) Debit Credit Interest Totals Cost of goods sold 730,000 530,000 Operating expenses 110,000 70,000 Income of Keller (78,000) 0 Separate company net income (268,000) (130,000) Consolidated net income To noncontrolling interest To parent Retained earnings. 1/1 -Gibson (1.346.000) -Keller 1735.0001 Net Income (268,000) (130,0001 Dividends 140,000 40,000 5 Retained earnings, 12/31 (1,474,000) (825,000) 7 Cash 192,000 90,000 8 Accounts receivable 402.000 640,000 9 Inventory 620,000 550,000 0 Investment in Keller 1,065,000 0 1 2 13 54 Land 200,000 620,000 35 Buildings and equipment (net) 519,000 530,000 36 Customer list 37 Total assets 2,998,000 2,430,000 38 39 Liabilities (704,000) (985,000) 40 Common stock (820,000) (550,000) 41 Addrional paid-in capital 0 (70,000) 42 Retained earnings. 12/31 (1,474,000) (825,000) 43 Noncontrolling interest in 44 Keller, 1 45 46 Noncontrolling interest in 47 Keller, 12/31 48 Total abilities and equity (2.938,000) (2,430,000) 43