Consolidation: I need help preparing the consolidated financial statements for 2019. And also calculation of Alan Ltd.'s consolidated retained earnings for 2019. I tried consolidated the net income statement and It was way off by 750k

The separate-entity statements for Alan Ltd. and Bob Inc. at the end of 2018 are presented below. Statements of Financial Position Statements of Comprehensive Income Alan Ltd. Bob Inc, Alan Ltd. $ 25,100,000 420,000 Bob Inc. $ 12,750,000 $ 400,000 $ Sales Dividend income Gain on sale of land Other income 75,000 655,000 1,900,000 (725,000) 2,116,000 (960,000) 65,000 25,885,000 12,825,000 Noncurrent assets: Long-term loan receivable Land Building Accumulated depreciation Machinery Accumulated depreciation Investment in Bob Inc. Total noncurrent assets Current assets: Inventories Amounts receivable Cash Total current assets Total assets 2,975.000 (480,000) 2,925,000 (915,000) 3,000,000 7,905,000 2,986,000 Cost of sales Other operating expenses Interest expense Total expenses Net income and comprehensive income 15,240,000 9,059,750 24,000 24,323,750 1,561,250 7,012,500 4,488,750 57,500 11,558,750 $ 1,266,250 1,100,000 583,000 334,000 2,017,000 9,922,000 688,250 166,000 156,000 1,010,250 3,996,250 $ $ Statements of Comprehensive Income $ $ 4,875,000 3,266,250 8,141,250 700,000 1,691,250 2,391,250 Alan Ltd. 2,205,000 1,561,250 (500,000) 3,266,250 Retained earnings, December 31, 20x1 Net income Dividends declared Retained earnings, December 31, 2018 Shareholders' equity: Comman shares $ Retained earnings Total shareholders' equity Noncurrent liabilities: Long-term loans Current liabilities: Accounts payable Total liabilities Total liabilities and shareholders' equity 3 Bob Inc. $ 1,125,000 1,266,250 (700,000) $ 1,691,250 $ 650,000 675,000 1,130,750 1,780,750 9,922,000 930,000 1,605,000 3,996,250 $ During 2018 Alan Ltd. and Bob Inc. had the following transactions between . During 2018, Bob Inc. sold $4,750,000 of goods to Alan Ltd. At the end of 2018, . During 2018, Alan Ltd. sold $2,000,000 of goods to Bob Inc. At the end of 2018, There was no impairment of goodwill for 2018. The separate-entity statements for Alan Ltd. and Bob at the end of 2019 are presented below. Statements of Financial Position Statements of Comprehensive Income Alan Ltd. Bob Inc. Alan Ltd. S 26,750,000 360,000 Bob Inc. $ 11,000,000 $ $ Sales Dividend income Gain on sale of machine Other income 655,000 1,900,000 (825,000) 2,450,000 (1,020,000) 120,000 27,230,000 11,000,000 Noncurrent assets: Long-term loan receivable Land Building Accumulated depreciation Machinery Accumulated depreciation Investment in Bob Inc. Total noncurrent assets Current assets: Inventories Amounts receivable Cash Total current assets Total assets 325,000 3,800,000 (665,000) 2,500,000 (1,015,000) 3,000,000 7,945,000 6,050,000 4,950,000 180,000 3,160,000 Cost of sales Other operating expenses Interest expense LOSS on sale of machine Total expenses Net income and comprehensive income s 16,050,000 9,530,500 200,000 100,000 25,880,500 1,349,500 $ 11,180,000 (180,000) 1,350,000 626,000 295,000 2,271,000 $ 10,216,000 584,250 184,000 143,000 911,250 4,071,250 $ Statements of Comprehensive Income For the year ended December 31, 2019 $ $ 4,875,000 3,875,750 8,750,750 1,000,000 911,250 1,911,250 S $ Shareholders' equity: Common shares Retained earnings Total shareholders' equity Noncurrent liabilities: Long-term loans Current liabilities: Accounts payable Total liabilities Total liabilities and shareholders' equity Retained earnings, December 31, 20x1 Net income Dividends declared Retained earnings, December 31, 2018 Alan Ltd. 3,266,250 1,349,500 (740,000) 3,875,750 Bob Inc. 1,691,250 (180,000) (600,000) 911,250 520,000 1,200,000 S 945,250 1,465,250 10,216,000 960,000 2,160,000 4,071,250 $ Additional information for 2019: During 2019, Alan Ltd. purchased $3,000,000 of goods from Bob Inc. At the end of the . During December 2019, Bob Inc. purchased $1,000,000 of goods from Alan Ltd. At the . Both Alan Ltd. and Bob Inc.'s gross margins for these goods were unchanged from . At the end of 2019, Bob Inc. did not pay the interest due on the loan from Alan Ltd. The separate-entity statements for Alan Ltd. and Bob Inc. at the end of 2018 are presented below. Statements of Financial Position Statements of Comprehensive Income Alan Ltd. Bob Inc, Alan Ltd. $ 25,100,000 420,000 Bob Inc. $ 12,750,000 $ 400,000 $ Sales Dividend income Gain on sale of land Other income 75,000 655,000 1,900,000 (725,000) 2,116,000 (960,000) 65,000 25,885,000 12,825,000 Noncurrent assets: Long-term loan receivable Land Building Accumulated depreciation Machinery Accumulated depreciation Investment in Bob Inc. Total noncurrent assets Current assets: Inventories Amounts receivable Cash Total current assets Total assets 2,975.000 (480,000) 2,925,000 (915,000) 3,000,000 7,905,000 2,986,000 Cost of sales Other operating expenses Interest expense Total expenses Net income and comprehensive income 15,240,000 9,059,750 24,000 24,323,750 1,561,250 7,012,500 4,488,750 57,500 11,558,750 $ 1,266,250 1,100,000 583,000 334,000 2,017,000 9,922,000 688,250 166,000 156,000 1,010,250 3,996,250 $ $ Statements of Comprehensive Income $ $ 4,875,000 3,266,250 8,141,250 700,000 1,691,250 2,391,250 Alan Ltd. 2,205,000 1,561,250 (500,000) 3,266,250 Retained earnings, December 31, 20x1 Net income Dividends declared Retained earnings, December 31, 2018 Shareholders' equity: Comman shares $ Retained earnings Total shareholders' equity Noncurrent liabilities: Long-term loans Current liabilities: Accounts payable Total liabilities Total liabilities and shareholders' equity 3 Bob Inc. $ 1,125,000 1,266,250 (700,000) $ 1,691,250 $ 650,000 675,000 1,130,750 1,780,750 9,922,000 930,000 1,605,000 3,996,250 $ During 2018 Alan Ltd. and Bob Inc. had the following transactions between . During 2018, Bob Inc. sold $4,750,000 of goods to Alan Ltd. At the end of 2018, . During 2018, Alan Ltd. sold $2,000,000 of goods to Bob Inc. At the end of 2018, There was no impairment of goodwill for 2018. The separate-entity statements for Alan Ltd. and Bob at the end of 2019 are presented below. Statements of Financial Position Statements of Comprehensive Income Alan Ltd. Bob Inc. Alan Ltd. S 26,750,000 360,000 Bob Inc. $ 11,000,000 $ $ Sales Dividend income Gain on sale of machine Other income 655,000 1,900,000 (825,000) 2,450,000 (1,020,000) 120,000 27,230,000 11,000,000 Noncurrent assets: Long-term loan receivable Land Building Accumulated depreciation Machinery Accumulated depreciation Investment in Bob Inc. Total noncurrent assets Current assets: Inventories Amounts receivable Cash Total current assets Total assets 325,000 3,800,000 (665,000) 2,500,000 (1,015,000) 3,000,000 7,945,000 6,050,000 4,950,000 180,000 3,160,000 Cost of sales Other operating expenses Interest expense LOSS on sale of machine Total expenses Net income and comprehensive income s 16,050,000 9,530,500 200,000 100,000 25,880,500 1,349,500 $ 11,180,000 (180,000) 1,350,000 626,000 295,000 2,271,000 $ 10,216,000 584,250 184,000 143,000 911,250 4,071,250 $ Statements of Comprehensive Income For the year ended December 31, 2019 $ $ 4,875,000 3,875,750 8,750,750 1,000,000 911,250 1,911,250 S $ Shareholders' equity: Common shares Retained earnings Total shareholders' equity Noncurrent liabilities: Long-term loans Current liabilities: Accounts payable Total liabilities Total liabilities and shareholders' equity Retained earnings, December 31, 20x1 Net income Dividends declared Retained earnings, December 31, 2018 Alan Ltd. 3,266,250 1,349,500 (740,000) 3,875,750 Bob Inc. 1,691,250 (180,000) (600,000) 911,250 520,000 1,200,000 S 945,250 1,465,250 10,216,000 960,000 2,160,000 4,071,250 $ Additional information for 2019: During 2019, Alan Ltd. purchased $3,000,000 of goods from Bob Inc. At the end of the . During December 2019, Bob Inc. purchased $1,000,000 of goods from Alan Ltd. At the . Both Alan Ltd. and Bob Inc.'s gross margins for these goods were unchanged from . At the end of 2019, Bob Inc. did not pay the interest due on the loan from Alan Ltd