During 2018. Pavin begins to sell merchandise to Stabler. During that year, inventory costing $77,000 was transferred at a price of $100.000. All but $13.000 (at sales price) of these goods were resold to outside parties by year-end. Stabler still owes $36.000 for inventory shipped from Pavin during December. The following financial figures are for the two companies for the year ending December 31, 2018. Dividends were both declared and paid during the current year. Stabler $ (511,eee) 243, e8e 161,5ee (18,450) $ Pavin (749,880) 458,000 128,800 39,000 @ @ (124,950) (248,950) (348,880) (248,958) 158,000 (438,958) 220,eee 178,888 614,950 $ Revenues Cost of goods sold Expenses Interest expense-bonds Interest income-bond investment Loss on extinguishment of bonds Equity in Stabler's income Net income Retained earnings, 1/1/18 Net income Dividends paid Retained earnings, 12/31/18 Cash and receivables Inventory Investment in Stabler Investment in Pavin bonds Land, buildings, and equipment (net) Trademarks Total assets Accounts payable Bonds payable Discount on bonds Common stock Retained earnings (above) Total liabilities and stockholders' equity $ $ (124,950) $ (367,000) (124,950) 76,080 $ (415,950) $ 38, cee 99, eee @ 161,250 544, see $ 248,eee $ 1,260,950 $ (195,980) (330,000) 15,000 (312,880) (438,950) $ (1,260,950) $ 833,250 $ (191,380) (103,eee) (123, eee) (415,950) $ (833,250) Note: Credits are indicated by parentheses. Prepare a worksheet to produce consolidated balances. (For accounts where multiple consolidation entries are required, combine all deblt entries Into one amount and enter this amount in the deblt column of the worksheet. Similarly, combine all credit entries Into one amount and enter this amount in the credit column of the worksheet. Amounts in the Deblt and Credit columns should be entered as positive. Negative amounts for the Consolidated Totals column should be entered with a minus sign.) During 2018. Pavin begins to sell merchandise to Stabler. During that year, inventory costing $77,000 was transferred at a price of $100.000. All but $13.000 (at sales price) of these goods were resold to outside parties by year-end. Stabler still owes $36.000 for inventory shipped from Pavin during December. The following financial figures are for the two companies for the year ending December 31, 2018. Dividends were both declared and paid during the current year. Stabler $ (511,eee) 243, e8e 161,5ee (18,450) $ Pavin (749,880) 458,000 128,800 39,000 @ @ (124,950) (248,950) (348,880) (248,958) 158,000 (438,958) 220,eee 178,888 614,950 $ Revenues Cost of goods sold Expenses Interest expense-bonds Interest income-bond investment Loss on extinguishment of bonds Equity in Stabler's income Net income Retained earnings, 1/1/18 Net income Dividends paid Retained earnings, 12/31/18 Cash and receivables Inventory Investment in Stabler Investment in Pavin bonds Land, buildings, and equipment (net) Trademarks Total assets Accounts payable Bonds payable Discount on bonds Common stock Retained earnings (above) Total liabilities and stockholders' equity $ $ (124,950) $ (367,000) (124,950) 76,080 $ (415,950) $ 38, cee 99, eee @ 161,250 544, see $ 248,eee $ 1,260,950 $ (195,980) (330,000) 15,000 (312,880) (438,950) $ (1,260,950) $ 833,250 $ (191,380) (103,eee) (123, eee) (415,950) $ (833,250) Note: Credits are indicated by parentheses. Prepare a worksheet to produce consolidated balances. (For accounts where multiple consolidation entries are required, combine all deblt entries Into one amount and enter this amount in the deblt column of the worksheet. Similarly, combine all credit entries Into one amount and enter this amount in the credit column of the worksheet. Amounts in the Deblt and Credit columns should be entered as positive. Negative amounts for the Consolidated Totals column should be entered with a minus sign.)
