advance Financial 4

bands maluma January 1, 705. Intimenor was su! In Day- blowing In amourec for ascots. Raroom Inc, and Starton nc tedand and pak $12010 and amustor are shown food Hambin Inc Stanton Inc Stanton Inc. (burying value) (camping valup] Caal $401,030 36050 1210.700 $30,103 530 060 inventory 654,000 $50,001 190.000 I and $21.030 130.000 Tradercak Total Ammet $120803 Qurost Lianimara 1690 500 $5:090 590400 6120 0301 530 PM 5209 080 Toled Lizpanties and Equity 8980,003 6120,007 Iin "elinaing and be Ingroad statements for both companies mr ire fiscal year eroad Bonnhor 31. 2012: $265.750 Cost of Goods Sold Depredator 510 BUD 525.020 626,100 Cogin an Sais of Land Not Income PRE 350 $25 .DOD Matzinne Eamings Sickness Balance Jacuary 1. 2019 5130 900 570.00D Net Incone 468, 240 $25,030 Dividenda $12,006 Babrat. Doounbar 31, 2019 $41,000 Rambum Inc. Stanton Inc. Cash 5190,850 $156,000 Arcounts Receivable $300,00D 5150.000 Investment in Stanton Inc. 380,000 Imrantory $100.030 530.000 Equipmed {nath 5050,000 12500 TradeMark $10,000 Total Assets 1971.600 Currant Lebillies 5424,800 $200,D00 Bonds Payobla 5120,000 $20,000 Common Shares $200,400 $30,000 Retained Earnings 6186 360 541,000 Total Liabilities and Cquily 5950 950 $371,000 Both companies use a FIFO system, and Stanton's entire inventory on the date of abquistion was sold during the following your. During 2019, Stanton Inc. borrowed 520,000 in cash from Rembum Inc. interest from to finance its operations. Rembum Uses the Cost Method to account for its investment in Stanton Inc. Moreover, Stanton dold all of its land during the year for $28,000, Goodwill impairment for 2019 was delemined to be $7,000. Rembum has chosen to value the non-controlling interest in Stanton on the acquisition date at the fair value of the subsidiary's ido fiable net assets (identifiable net assets method Prepare Rombum's consolidated Income statement for the your ended December 31. 2019 and show the allocation of the consolidated net income botwoon the controlling and non-controlling interests