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I need help figuring out the EOY NONCONTROLLING INTEREST EQUITY Income Statement Kuebler Eastwood Sales $860,000 $750,000 Cost of goods sold -458,000 -430.000 Gross Profit
I need help figuring out the EOY NONCONTROLLING INTEREST EQUITY
Income Statement Kuebler Eastwood Sales $860,000 $750,000 Cost of goods sold -458,000 -430.000 Gross Profit 402,000 320,000 Income (loss) from subsidiary 10,000 Operating expenses -158,000 -165.000 Net income $254,000 $155,000 Statement of Retained Earnings Kuebler Eastwood BOY Retained Earnings $878,440 $420,000 Net income 254,000 155,000 Dividends -175,000 -12,500 Ending Retained Earnings $957.440 $562.500 Balance Sheet Kuebler Eastwood Assets: Cash $55,000 $54,000 Accounts receivable 46,000 24,000 Inventory 95,000 95,112 Investment in subsidiary 834,880 PPE, net 340,060 1,873,188 $1,370,940 $2,046,300 Liabilities and Stockholders' Equity: Current Liabilities $75,000 $400,200 Long-term Liabilities 150,000 790,000 Common Stock 63,500 118, 100 APIC 125,000 175,500 Retained Earnings 957,440 562,500 $1,370,940 $2,046,300Step by Step Solution
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