Cons. Entries
	Parent	Subsidiary	Dr	Cr	Consolidated
Income Statement:
Sales	$5,600,000	$1,440,000
Cost of Goods sold	-3,360,000	-800,000
Gross profit	$2,240,000	$640,000
Income (loss) from subsidiary	102,000
Operating expenses	-1,440,000	-480,000
Net Income	$902,000	$160,000
Consolidated NI attrib to NCI
Consolidated NI attrib to CI
Statement of Ret Earnings:
BOY retained earnings	$1,254,000	$776,000
Net income	902,000	160,000
Dividends	-152,000	-80,000
EOY retained earnings	$2,004,000	$856,000
Balance Sheet:
Cash	$240,000	$80,000
Accounts receivable	480,000	320,000
Inventory	640,000	704,000
Equity investment	1,224,000
PPE, net	1,600,000	960,000
Patent
Goodwill
Total Assets	$4,184,000	$2,064,000
Current liabilities	$500,000	$144,000
Long-term liabilities	880,000	480,000
Common stock	480,000	224,000
APIC	320,000	360,000	360,000		320,000
Retained earnings	2,004,000	856,000	856,000		2,004,000
Noncontrolling interest			1,216,000		2,324,000
Total Liabilities and Stockholder Equity	$4,184,000	$2,064,000
Required:
1. Create the entries required for Consolidation.
2. Post the entries onto the Worksheet above.
3. Complete the Consolidated column with formulas.

some check figures here:

Consolidated NI attrib to NCS $34,000

Consolidated NI attrib to CI $902,000

EOY RE Parent = Consolidated = $2,004,000

Goodwill = $120,000

Total Debits=Credits =$1,736,000

End Noncontrolling Interest $408,000

Assume, on January 1,2016 , a parent company acquires a 75% interest in its subsidiary. The total fair value of the controlling and noncontrolling interests was $360,000 over the book value of the subsidiary's Stockholders' Equity on the acquisition date. The parent assigned the excess to the following [A] assets: 75% of the Goodwill is allocated to the parent. The parent and the subsidiary report the following pre-consolidation financial statements at December 31, 2022. Assume, on January 1,2016 , a parent company acquires a 75% interest in its subsidiary. The total fair value of the controlling and noncontrolling interests was $360,000 over the book value of the subsidiary's Stockholders' Equity on the acquisition date. The parent assigned the excess to the following [A] assets: 75% of the Goodwill is allocated to the parent. The parent and the subsidiary report the following pre-consolidation financial statements at December 31, 2022