At what point in the accounting process are consolidations performed (i.c.. before or after the component financial statements are issued)? . Who performs the consolidations? I Based on your annual report, how many subsidiaries and parents are listed on the statements? 12 points Use the following information to answer questions 16-19 (Static) ebook References Mc Graw Hill [The following information applies to the questions displayed below.] On July 1, TruData Company issues 10,000 shares of its common stock with a $5 par value and a $40 fair value in exchange for all of Webstat Company's outstanding voting shares. Webstat's precombination book and fair values are shown along with book values for TruData's accounts as follows. Revenues (1/1 to 7/1) Expenses (1/1 to 7/1): Retained earnings, 1/1 Cash and receivables Inventory Patented technology (net) Trubata Book Values $ (250,000) 170,000 Webstat Webstat Book Values Fair Values $ (130,000) 80,000 (150,000) (130,000) 140,000 60,000 $ 60,000 190,000 145,000 175,000 230,000 180,000 200,000 Land 400,000 200,000 225,000 Buildings and equipment (net) 100,000 75,000 Liabilities 75,000 (540,000) (360,000) Common stock (350,000) (300,000) Additional paid-in capital (10,000) (70,000) (30,000) Problem 2-19 (Static) (LO 2-5, 2-7) Prev 1 of 3 Next >