Consolidated Balance Sheets after acquisition Assumption: V 1. Corporation A acquired a 90% interest in Corporation B for $101250 on January 1, 2018, when Corporation B's stockholders equity book value was $90000. 2. The account payable of Corporation B include $11250 owed to Corporation A 3. During the Year Corporation B had income of $45000 and declared $22500 in dividend. Original Investment january 1 Add: 90% of Corporation B 545000 Income for the Year Less: 90% of Corporation 8 $22500 Dividend for the Year Investment Account Balance December 31, 2018 Investment in Corp B Non Controlling Interest Assets Current Assets Cash Dividend receivable Other current assets Total Current Assets Plant Asstes Less: Accumulated Depreciation Total Plant Assets Investment in Corporation 8-(90%) Goodwill Total Assets Liabilities and stockholders' Equity Current liabilities Account Payable Dividend payable Other current liabilities Total current liabilities Stockholders' equity Capital Stock Separated Balance Sheets Corporation A (Parent) Corporation B (Subsidiary) Adjustment and Elminating Entries Consolidated December 31, 2018 December 31, 2018 Corporation A and its Subsidiary December 31, 2018 61,650.00 $ 33,750.00 20,250.00 92,250.00 63,000.00 174,150.00 96,750.00 168,750.00 101,250.00 (45,000.00) (18,000.00) 123,750.00 83,250.00 121,500.00 419,400.00 $ 180,000,00 $ 67,500.00 $ 33,750.00 22.500.00 45,000.00 11,250.00 112,500.00 67,500.00 Retained earnings Noncontrolling interest Total stockholders' equity Total liabilities and stockholders' equity $ Account Journal Entries 1 Journal Entries 2 Journal Entries 3 225,00000 81,900.00 67,500 00 45,000.00 306,900.00 112,500.00 419,400.00 5 180,000.00 DEBIT CREDIT