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i tried everything but retained earning is coming as incorrect. someone help me find out the correct retained earning asap. Thanks in advance! Determining ending

i tried everything but retained earning is coming as incorrect. someone help me find out the correct retained earning asap. Thanks in advance! image text in transcribed
image text in transcribed
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Determining ending consolidated balances in the second year following the acquisition-Cost method Assume a parent company acquired a subsidiary on January 1, 2018, for $1.200.000. The purchase price was $650,000 in excess of the subsidiary's $550.000 book value of Stockholders' Equity on the acquisition date. Of this excess purchase price. $250,000 was assigned to Property, plant and equipment with a remaining economic useful life of 10 years, and $400.000 was assigned to Goodwill. On the acquisition date, the subsidiary reported retained earnings equal to 5280,000. The parent uses the cost method of pre-consolidation Equity investment bookkeeping. The financial statements of the parent and its subsidiary for the year ended December 31, 2019. are as follows: Parent Subsidiary Parent Subsidiary Income statement Balance sheet Sales $5,000,000 1.200.000 Assets Cost of goods sold (3,000,000) (700.000) cash Gross proid 2.000.000 500.000 Accountable Equity come 40.000 Inventory Operating 1.500.000 (400,000) Culty me Netcom 550.000 $100.000 Property in Statement of retained earnings DO 1.300.000 600.000 band schulden uity Nellore 540.000 100.000 payable Divide (200,000 40,000 Sabates des 30.000 300.000 Les Common APIC dans $800,000 $150.000 1,000,000 320,000 1.600.000 300,000 200 000 3.000.000 900.000 $7,600,000 $1.290.000 $700.000 5140,000 900.000 220.000 2.500.000 600.000 500,000 120.000 1.160,000 150,000 1.840,000 660,000 $7.600.000 $1.890.000 At what amount will the following accounts appear on the consolidated financial statements? Do not use negative signs with any of your answers. a Sales $ 6,200,000 v b. Investment income 5 O Operating expenses $ 1,925,000 de Inventories 5 2,100,000 e quity investment 5 O Property, plant & equipment, net 4,100,000 18. Goodwill 5 400,000 he common stock 5 500,000 Retained earnings 5 2,220,000 X At what amount will the following accounts appear on the consolidated financial statements? Do not use negative signs with any of your answers. a Sales $ 6200000 0 1925000 2100000 OV b. Investment income $ Operating expenses S Inventories e Equity investment $ Property, plant & equipment net & Goodwill 3 h common stock Retained earnings 4100000 400000 500000 1,840,000 3

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