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Bolero Company holds 80 percent of the common stock of Rivera, Inc., and 40 percent of this subsidiary's convertible bonds. The following consolidated financial statements
Bolero Company holds 80 percent of the common stock of Rivera, Inc., and 40 percent of this subsidiary's convertible bonds. The following consolidated financial statements are for 2017 and 2018: Revenues Cost of goods sold Depreciation and amortization Gain on sale of building Interest expense Consolidated net incone to noncontrolling interest to parent company Retained earnings, 1/1 Net income Dividends declared (925,000) $1,055,000) 615, 000 655,000 130,000 (35,000) 45,000 (260,000) 26,000 (234,000) 105,000 45,000 (160,000) (136,000) (136,000) ,000 $(315, 000) $ (386,000 (234,000) 115,000 (505,000) 65,000 $ (386,000) $ 95,000 Retained earnings, 12/31 $190,000 Accounts receivable Inventory Buildings and equipment (net) 180,000 215,000 655,000 55,000 370,000 725,000 1,600,000 S (120,000) Total assets 1,325,000 Accounts payable Bonds payable Noncontrolling interest in Rivera Common stock Additional paid-in capital Retained earnings (157,000) (415,000) 47,000) (128,000) 192,000) 386,000)05,000 325,000) (530,000) (66,000 (145,000) (234,000 Total 1iabilities and equities $1,600,000) Bolero Company holds 80 percent of the common stock of Rivera, Inc., and 40 percent of this subsidiary's convertible bonds. The following consolidated financial statements are for 2017 and 2018: Revenues Cost of goods sold Depreciation and amortization Gain on sale of building Interest expense Consolidated net incone to noncontrolling interest to parent company Retained earnings, 1/1 Net income Dividends declared (925,000) $1,055,000) 615, 000 655,000 130,000 (35,000) 45,000 (260,000) 26,000 (234,000) 105,000 45,000 (160,000) (136,000) (136,000) ,000 $(315, 000) $ (386,000 (234,000) 115,000 (505,000) 65,000 $ (386,000) $ 95,000 Retained earnings, 12/31 $190,000 Accounts receivable Inventory Buildings and equipment (net) 180,000 215,000 655,000 55,000 370,000 725,000 1,600,000 S (120,000) Total assets 1,325,000 Accounts payable Bonds payable Noncontrolling interest in Rivera Common stock Additional paid-in capital Retained earnings (157,000) (415,000) 47,000) (128,000) 192,000) 386,000)05,000 325,000) (530,000) (66,000 (145,000) (234,000 Total 1iabilities and equities $1,600,000)
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