Consolidated Worksheet PROJECT SPRING 2024 --- TEMPLATE NAME: Accounts Sales Cost of Goods Sold Proctor Sabon Label Debit $ (791,000) $ (600,000) $ 500,000 $ 400,000 Gain on Sale of Equipment $ (3,000) Dividend Income $ (9,000) $ Other Income $ (34,000) Depreciation/Amortization Expense $ 18,000 $ 14,000 Interest Expense $ 51,000 $ 46,000 Other Expenses $ 100,000 $ 100,000 Separate Net Income $ (134,000) $ (74,000) Consolidated Net Income Net Income to Noncontrolling Interest Net Income to Controlling Interest Retained Earnings, Proctor, 1/1 $ (990,000) Retained Earnings, Sabon, 1/1 $ (550,000) Net Income $ (134,000) $ (74,000) Dividends S 130,000 $ 10,000 Retained Earnings 12/31 $ (994,000) $ (614,000) Cash $ 388,000 $ 150,000 Receivables $ 100,000 $ 50,000 Inventory $ 330,000 $ 160,000 Investment in Sabon $ 657,000 $ Equipment $ 500,000 $ 550,000 Accumulated Depreciation-Equipment $ (100,000) $ (130,000) Buildings $ 1,000,000 $ 650,000 Accumulated Depreciation-Buildings $ (100,000) $ (200,000) Other Assets $ 442,000 $ 492,500 Customer Lists $ $ Goodwill $ $ Total Assets $ 3,217,000 $ 1,722,500 Accounts Payable $ (192,000) $ (258,500) Note Payable $ (1,018,000) $ (700,000) Bonds Payable $ (413,000) $ Common Stock (no new shares issued) $ (600,000) $ (150,000) Retained Earnings 12/31 $ (994,000) $ (614,000) Noncontrolling Interest 1/1 $ $ Noncontrolling Interest 12/31 $ $ Total Liabilities & Stockholder's Equity $ (3,217,000) $ (1,722,500) Consolidation Entries Non- Controlling Consolidated Label Credit Interest Totals