Consolidated Financiol Stotements and Outside Ownership 201 Sales Expenses Noncontrolling Interest in Consolidated Net Income Retained Earnings. 1/1 Trademarks Subsidiary's Net Income 36, Nascent, Inc.,acquires 60 before and after the liabilities: percent of Sea-Breeze Corporation for $414,000 cash on January 1, 2o1s t of the Sea-Breere shares traed near a total value of $276,000 both date. On January 1, 2015, Sea-Breeze had the following assets and aoquisition Fair Value Current assets Land Buildings (net (6-year remaining life) Equipment (net) (4-year remaining life) Patent (10-year remaining life) Liabilities Book Value $150,000 300,000 $150,000 200,000 360,000 280.000 100,000 300,000 (400,000) (400,000) The companies financial statements for the year ending December 31, 2018, follow Sea-Breeze $ (300.000) Nascent Revenues Operating expenses Investment income... ,.... , , , , $ (600,000) 210,000 410,000 Net income Retained earnings, 1/1/18 Net income Dividends declared 32 s (300.000) $ (700,000) (232,000) 92,000 (90 70,000 $ (320,000) Retained earnings, 1 2/31/1 8 Current assets. , . Land Buildings (net Equipment (net) Investment in Sea-Breeze. .. $ (840,000) 330,000 220,000 700,000 400,000 414,000 $ 100,o00 200,000 200,000 500,000 $ 2,064,000 $ 1,000,000 Total assets . . Liabilities. Common stock Retained earnings, 12/31/18. $ (200,000) $ (500,000) (724,000) (840.000) (480,000) 320,000) 1,000 Total liabilities and equities.. Consolidated Financiol Stotements and Outside Ownership 201 Sales Expenses Noncontrolling Interest in Consolidated Net Income Retained Earnings. 1/1 Trademarks Subsidiary's Net Income 36, Nascent, Inc.,acquires 60 before and after the liabilities: percent of Sea-Breeze Corporation for $414,000 cash on January 1, 2o1s t of the Sea-Breere shares traed near a total value of $276,000 both date. On January 1, 2015, Sea-Breeze had the following assets and aoquisition Fair Value Current assets Land Buildings (net (6-year remaining life) Equipment (net) (4-year remaining life) Patent (10-year remaining life) Liabilities Book Value $150,000 300,000 $150,000 200,000 360,000 280.000 100,000 300,000 (400,000) (400,000) The companies financial statements for the year ending December 31, 2018, follow Sea-Breeze $ (300.000) Nascent Revenues Operating expenses Investment income... ,.... , , , , $ (600,000) 210,000 410,000 Net income Retained earnings, 1/1/18 Net income Dividends declared 32 s (300.000) $ (700,000) (232,000) 92,000 (90 70,000 $ (320,000) Retained earnings, 1 2/31/1 8 Current assets. , . Land Buildings (net Equipment (net) Investment in Sea-Breeze. .. $ (840,000) 330,000 220,000 700,000 400,000 414,000 $ 100,o00 200,000 200,000 500,000 $ 2,064,000 $ 1,000,000 Total assets . . Liabilities. Common stock Retained earnings, 12/31/18. $ (200,000) $ (500,000) (724,000) (840.000) (480,000) 320,000) 1,000 Total liabilities and equities