Consolidation Entries Innovus ChipTech Debit Revenues $ (990,000) $ (210,000) Cost of Goods Sold $ 500,000 $ 90,000 Depreciation Expense $ 100,000 $ 5,000 Amortization Expense $ 55,000 $ 18,000 Dividend Income $ (40,000) $ Net Income $ (375,000) $ (97,000) Retained Earnings 1/1 Net Income SS $ (1,555,000) $ (450,000) $ (375,000) $ (97,000) Dividends Declared $ 250,000 $ 40,000 Retained Earnings 12/31 $ (1,680,000) $ (507,000) Current Assets Investment in ChipTech SS $ 960,000 $ 355,000 670,000 Equipment (net) $ Trademark Existing Technology ess 765,000 $ 225,000 $ 235,000 $ 100,000 $ $ 45,000 Goodwill $ 450,000 $ Total Assets Liabilities 5 Common Stock Additional Paid-in-Capital B Retained Earnings 12/31 $ 3,080,000 $ 725,000 $ (780,000) $ (88,000) 555 is $ $ $ (500,000) $ (100,000) (120,000) $ (30,000) (1,680,000) $ (507,000) (725,000) Total Liabilities and Equity S (3,080,000) S Credit Consolidated