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InfoTech Ltd has the following consolidated statement data for its subsidiaries: Parent Company Net Income: 100,000 Subsidiary A Net Income: 40,000 Subsidiary B Net Income:
InfoTech Ltd has the following consolidated statement data for its subsidiaries:
- Parent Company Net Income: £100,000
- Subsidiary A Net Income: £40,000
- Subsidiary B Net Income: £60,000
Requirements:
- Prepare a consolidated income statement for InfoTech Ltd for the year ended 31 December 2021.
- Calculate the percentage contribution of each subsidiary to the consolidated net income.
- Analyze the overall financial performance based on the consolidated statement.
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Advanced Financial Accounting
Authors: Thomas H. Beechy, V. Umashanker Trivedi, Kenneth E. MacAulay
7th edition
132928930, 978-0132928939
