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Big owns 8 0 % of Little. Assume that at acquisition there was no differential. On 1 / 1 / 2 2 Little issues $

Big owns 80% of Little.
Assume that at acquisition there was no differential.
On 1/1/22 Little issues $100,000 of 10%,10 year bonds at 103.
The bonds are dated 1/1/22, and pay interest each 12/31
On 1/1/24 Big buys the bonds on the open market at 102
Worksheets for 2024 and 2025 are provided below. Provide appropriate elimination entries and complete the worksheets
Both firms use straight-line amortization, and Big uses the full equity method to account for their investment in Little. 2024 Big Little dr cr Consolidated
Sales 290,000245,000535,000
Interest expense 9,7009,7000
Interest revenue 9,7500
Other expenses 276,000230,000506,000
Gain/loss on bond retirement
Investment income 4,5200
Net income 29,000
Income to NC Interest
Income to controlling interest
Beginning R/E 200,000150,000
Add: Income
Less: Dividends 010,000
Ending R/E
Current assets 20,00050,000
Investment in Little 148,520
Investment in bonds 101,750
Other Non-current assets 138,000267,400
Current liabilties 60,00030,000
Bonds payable 100,000
Premium on bonds 2,100
Common stock 120,00040,000
Retained earnings
NC Interest 2025 Big Little
Sales 300,000254,000
Interest expense 9,700
Interest revenue 9,750
Other expenses 280,000230,000
Gain/loss on bond retirement
Investment income 11,400
Net income
Income to NC Interest
Income to controlling interest
Beginning R/E 228,270
Add: Income
Less: Dividends 00
Ending R/E
Current assets 20,00060,000
Investment in Little 159,920
Investment in bonds 101,500
Other Non-current assets 168,000271,400
Current liabilties 60,00030,000
Bonds payable 100,000
Premium on bonds 1,800
Common stock 120,00040,000
Retained earnings
NC Interest All of the information is given in the picture. Based on that, please answer the following: What is the value in cell F13
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Please provide correct answers. I will give you an upvote!!!
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