Calculation of consolidated retained earnings January 1, Year 6 Foxx' Retained Earnings 153,000.00 Rabb's Retained Earnings 92,000.00 Rabb's Retained earnings on date of acquisition 30,000.00 Increase since acquisition 62,000.00 Less: Changes to acq. diff. 5,500.00 56,500.00 Foxx's share 75% 42,375.00 195,375.00 Consolidated Retained Earnings Statement- Year 6 January 1 - Balance 195,375.00 Net income 116,489.00 311,864.00 Less: Dividends -30,000.00 December 31 - Balance 281,864.00