E E Calibri (Body) General $ % COM Form Fa Cell 9 BIU - fx EXTRA CREDIT PROBLEM THIS IS AN EXTRA CREDIT PROBLEM. YOU DO NOT HAVE TO COMPLETE THIS PROBLEM. IF YOU CHOOSE TO DO THIS PROBLEM IT MAY IMPROVE YOUR GRADE IN THE EXAM BUT IT WILL NOT REDUCE YOUR GRADE IN THIS EXAM. IF YOU CHOOSE NOT TO DO THIS PROBLEM IT WILL NOT HURT YOUR GRADE IN THIS EXAM. Using the relevant information from Problem 1, prepare the necessary Consolidation Worksheet Entries that would be made to consolidate the financial statements for Hillary Corp. and Bill Inc. for the year ending December 31, 2020. For the year ending December 31, 2020 Bill Inc. reported net income of $276,000 and paid dividends of $96,000 to its shareholders. The $100,000 advance from Hillary Corp. to Bill Inc. was still outstanding as of December 31, 2020. Use the space provided below. SHOW ALL WORK IN SUPPORT OF YOUR ANSWER CONSOLIDATION WORKSHEET JOURNAL ENTRIES HILLARY CORP and BILL INC. - December 31, 2020 E E Calibri (Body) General $ % COM Form Fa Cell 9 BIU - fx EXTRA CREDIT PROBLEM THIS IS AN EXTRA CREDIT PROBLEM. YOU DO NOT HAVE TO COMPLETE THIS PROBLEM. IF YOU CHOOSE TO DO THIS PROBLEM IT MAY IMPROVE YOUR GRADE IN THE EXAM BUT IT WILL NOT REDUCE YOUR GRADE IN THIS EXAM. IF YOU CHOOSE NOT TO DO THIS PROBLEM IT WILL NOT HURT YOUR GRADE IN THIS EXAM. Using the relevant information from Problem 1, prepare the necessary Consolidation Worksheet Entries that would be made to consolidate the financial statements for Hillary Corp. and Bill Inc. for the year ending December 31, 2020. For the year ending December 31, 2020 Bill Inc. reported net income of $276,000 and paid dividends of $96,000 to its shareholders. The $100,000 advance from Hillary Corp. to Bill Inc. was still outstanding as of December 31, 2020. Use the space provided below. SHOW ALL WORK IN SUPPORT OF YOUR ANSWER CONSOLIDATION WORKSHEET JOURNAL ENTRIES HILLARY CORP and BILL INC. - December 31, 2020