Consollidation at the end of the first year subsequent to date of Asume thux a parent company acquires is subsidiary on January 1, 2016, by exchanging 40,000 shares of its $1 par walue Common Stock, with a market value on the acquisition date of 28 per share, for all of the outstanding veting shares of the acquiree You have been Cost of goods sold 2.672.0000 0 00072,000 Aceures necelvable Equity inceme Operating esperses 318920 $145,200 2,245 2 316660 6 160 of retained eanings 7,20 209,40 Ceemen 414 40012,000 948400 4000 330 240 1067.0 General journal Common soack tional paid paid in capital