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Following are the individual financial statements for Gibson end Davis for the year ending December 31, 2018: (738,eae) (470, 345, ee 229, eae zee,eae

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Following are the individual financial statements for Gibson end Davis for the year ending December 31, 2018: (738,eae) (470, 345, ee 229, eae zee,eae (211,eae) (175,eae) (779, eae) (488 , eae) (211 , eae) (17s,eae) Cle,eae) (633,eae) 274, 135,eae 575,eae 278,eae 617 , 850 532, ege 630, eae 413 033 426 , (872, en , egg) (63e,eae) (34,eae) (910, eae) (633, en Sales Cost of goods sold Operating expenses Dividend income Net income Retained earnings, 1/1/18 Net incone Dividends declared Retained earnings, 12/31/18 Cash and receivables Inventory Investment in Davis Buildings (net) Equipment (net) Total assets Liabilities Cornon stock Retained earnings, 12/31/18 Total liabilities and stockholders equity S S (18 , eae) 8e,ee 3e,eae (1,469, eae) Gibson acquired 60 percent of Devis on April 1, 2018, for $617,850. On that dote, equipment owned by Davis (with a five-year remaining life) was overvalued by $72,000_ Also on that date, the feir value of the 40 percent noncontrolling interest was S411,900_ Davis earned income evenly during the year but declared the S40,OOO dividend on November 1, 2018. e. Prepare o consolidated income statement for the year ending December 31, 2018. b. Determine the consolidated balance for each of the following accounts os of December 31, 2018: Goodwill Equipment (net) Common stock Buildings (net) Dividends declared Complete this question by entering your answers in the tabs below. Required A Required B epare a consolidated income statement for the year ending December 31, 2018. (Enter all amounts as positive values.)

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