HH2E - P3-36 data 1 Consolidation entries Parent Subsidiaryl | Cr Consolidated Income statement: Sales Cost of goods sold Gross Profit Equity income Operating expenses Net income 3,700,000 2.100.000 (2.590,000)|(1,260,000) 1.110,000 840,000 294,000 (703,000) (546,000) 701,000 294,000 Statement of retained earnings: BOY retained earnings 2,352,000 Net income 701,000 Dividends (140,200) Ending retained earnings 2,912,800 1,085,000 294,000 (44,100) 1.334,900 Balance sheet: Assets Cash Accounts receivable Inventory Equity Investment 877,400 541,100 473,600 487,200 717,8001625,800 1,649,900 PPE, net 2.712,840 1.157.800 6,431,540 2,811,900 Liabilities and Stockholders' Equity Accounts payable 270,840 200,200 Accrued liabilities 321,900 261,800 Long-term Liabilities 700.000 Common Stock 518,000 140,000 APIC 2,408,000 175.000 Retained Eamings 2,912,800 1,334,900 6,431,540 2,811,900 HH2E - P3-36 data 1 Consolidation entries Parent Subsidiaryl | Cr Consolidated Income statement: Sales Cost of goods sold Gross Profit Equity income Operating expenses Net income 3,700,000 2.100.000 (2.590,000)|(1,260,000) 1.110,000 840,000 294,000 (703,000) (546,000) 701,000 294,000 Statement of retained earnings: BOY retained earnings 2,352,000 Net income 701,000 Dividends (140,200) Ending retained earnings 2,912,800 1,085,000 294,000 (44,100) 1.334,900 Balance sheet: Assets Cash Accounts receivable Inventory Equity Investment 877,400 541,100 473,600 487,200 717,8001625,800 1,649,900 PPE, net 2.712,840 1.157.800 6,431,540 2,811,900 Liabilities and Stockholders' Equity Accounts payable 270,840 200,200 Accrued liabilities 321,900 261,800 Long-term Liabilities 700.000 Common Stock 518,000 140,000 APIC 2,408,000 175.000 Retained Eamings 2,912,800 1,334,900 6,431,540 2,811,900