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I have the last three number are wrong this is Question what more information you need ? if you don't know how you do it
I have the last three number are wrong
this is Question what more information you need ? if you don't know how you do it give it sone aless thanks
ProForm acquired 80 percent of ClipRite on June 30, 2017, for $800,000 in cash. Based on ClipRite's acquisition-date fair value, an unrecorded intangible of $500,000 was recognized and is being amortized at the rate of $17,000 per year. No goodwill was recognized in the acquisition. The noncontrolling interest fair value was assessed at $200,000 at the acquisition date. The 2018 financial statements are as follows ProForm ClipRite Sales Cost of goods sold Operating expenses Dividend income $ (920,000 $ (840,000) 595,000 220,000 (80,000) $ (185,000) (220,000) 460,000 160,000 Net income Retained earnings, 1/1/18 Net income Dividends declared $ (1,600,000) (185,000) (970,000) (220,000) 100,000 $(1,565,000 $ (1,090,000) $420,000 820,000 220,000 Retained earnings, 12/31/18 Cash and receivables Lnventory Investment in ClipRite Fixed assets $ 520,000 410,000 800,000 1,100,000 1,200,000 Accumulated depreciation 200,000) (350,000) $ 2,630,000 $ 2,090,000 Totals Liabilities Common stock Retained earnings, 12/31/18 $ (465,000) (400,000) (600,000) (600,000) 1,090,000 $ (2,630,000) (2,090,000) (1,565,000).09. Totals ClipRite sold ProForm inventory costing $81,000 during the last six months of 2017 for $210,000. At year-end, 30 percent remained. ClipRite sells ProForm inventory costing $260,000 during 2018 for $370,000. At year-end, 10 percent is left. With these facts, determine the consolidated balances for the followingStep by Step Solution
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