MBA 515 GROUP REPORTING Eliminations A B C Total 12 13 #4 N5 #6 Consolidated ASSETS Cash and Cash Equivalents 500 150 50 Trade Receivables 2.500 500 100 Other Receivables 500 0 75 Inventories 750 400 125 Financial Assets 1,000 0 0 Property, Plant and Equipment 3.550 1.250 1,000 Deferred Tax Asset 1.200 200 150 10,000 2.500 1.500 LIABILITIES Bank Loans 2.500 500 200 Trade Payables 1.950 250 120 Taxes Payable 100 50 40 EQUITY Capital 3.000 1.000 800 Retained Earnings 1.250 500 240 Net Income 1.200 200 100 Minority Interest 10.000 2.500 1.500 INCOME STATEMENT Sales 12.500 2.500 2.000 COS (10.000) (2.000) (1.600) General and Admin Expenses (1.250) (225) (150) Other Income 1.000 200 25 Other Expense (500) (100) (50) Profit of associate Finance Cost Tax Charge (250) (75) (50) (300) (100) (75) 1.200 200 100 Company A invested in Company B by paying $800 for 80% shareholding interest at the establishment (A has control over B). Company A invested in Company C by paying $200 for 25% shareholding interest at the establishment (A has significant influance on C). Inter-company transactions and balances are as follows: Company B obtained a loan from Company A. As of year-end outstanding balance is $500 and total interest charged within the year is $75. Company A reported this interest income as other income. Company A sold merchandise amounting to $1,000 to Company B, cost of which was $850, At the end of the year, certain portion amounting to $200 of these stocks are still in the warehouse of Company B. Company A sold a machinery with net book value of $300 (cost $500; accumulated depreciation $200) to Company B at $400 in January. Both companies estimated annual depreciaton rate as 20%. As of year-end, Company A has a trade receivable of $150 from Company B. Company B declared and paid $ 100 dividend within the year. Prepare consolidated financial statements of Company A.