Calculate items that may appear in consolidated statements two years after acquisition For Corporation acquired 80 percent of the outstanding stock of Sle Corporation for $1,120,000 cash of January 3, 2011, on which date Sle's stockholders' equity consisted of capital stock of $800,000 and retained earnings of $200,000. There were no changes in the outstanding stock of either corporation during 2011 and 2012. At December 31, 2012, the adjusted trial balances of Por and Sle are as follows (in thousands): Debits Current assets Plant assets-net Investment in Sle-80% Cost of goods sold Other expenses Dividends 4 Sle $ 300 1,200 480600,000 Por $ 816 1,600 1,360 1,000 200 (26 240 100 $5,216 $2,200 Current liabilities. $ 648 $ 200 2,000 Retained earnings 808 800 400 Sales 1,600 (800-600. Income from Sle 160 $5,216 $2,200 Credits UCSCapital stock ADDITIONAL INFORMATION WI RE Implical tote Fr 1. NCS 7X2 ni 1,400,000 -1000000 Low 400,000 40,000 = 200,000 (sle) 800-1 1. All of Sle's assets and liabilities were recorded at fair values equal to book values on January 3, 2011. 2. The current liabilities of Sle at December 31, 2012, include dividends payable of $40,000. 816 + 300; 1167000000 Rec. x80% REQUIRED: Determine the amounts that should appear in the consolidated statements of Por Corporation and Subsidiary at December 31, 2012, for each of the following: 1. Noncontrolling interest share 1st, 116.000 2. Current assets Income from Sle Mons 4. Capital stock 2000. Investment in Sle ope 400,000 6. Excess of investment fair value over book value 2. 600,000 c (2.86%) 1120000 AV Consolidated.net income for the year ended December 31, 2012 6000+800000=2x00 8. Consolidated retained earnings, December 31, 2011-808,00 9. Consolidated retained earnings, December 31, 2012 808,000+ 560,000 240,000 1,128,000 10. Noncontrolling interest, December 31, 2012 340,000