On January 1, 2015, Parker Company acquired 90% of the common stock of Stride Company for $351,000. On this date, Stride had common stock, other paid-in capital in excess of par, and retained earnings of $100,000, $40,000, and $210,000, respectively. The excess of cost over book value is due to goodwill. In both 2015 and 2016, Parker accounted for the investment in Stride using the cost method.

Problem 5-2 (LO 2) Cost method, 90%, straight-line bonds. On January 1, 2015, Parker Company On this date, Stride had common stock, other paid-in capital in excess of par, and retained earnings of $100,000, S40,000, and $210,000, respectively. The excess of cost over book value is due to goodwill. In both 2015 and 2016, Parker accounted for the investment in Stride using the cost method 90% of the common stock of Stride Company for $351,000. On January 1, 2015, Suide sold $100,000 par value of 10-year, 8% bonds for $94,000. The bonds pay interest semiannually on January and July 1 of each year. On December 31, 2015, Parker purchased all of Stride's bonds for $98,200. The bonds are still held on December 31, 2016 Both companies correctly recorded all entries relative to bonds and interest, using straight-line amortization for premium or discount The wial balncs of Parker Company and its subsidiary were as follows on December 31,2016 4,000 246,400 351,000 98,400 80,000 400,000 (120,0001 Oher Current Assets 315,200 Investment in Stride Compoy Buildingsand Equipment Accumulated Depreciakn Interest Payable Other Current Liabilises....A. Bonds Payable (8%) Discount on Bonds Payable Other long-Term Liabilities Common Stock Parker Compony. 280,000 (60,00 (98,000 (56,000! (100,000 4,800 (200,000 (,000) (200,000 ....(365,000] (100,000 40,000) (260,000! (350,00 Common Stock Stride Company Other Paid In Capital in Excess of Pa Stride Company..... Net Sales (640,0001 360,000 168,400 71,400 8,600 (8,200 27,000 50,000 Dividend Income 30,000 Totals.. Prepare the worksheet necessary to produce the consolidated financial statements of Parker and Required its subsidiary Stride for the year ended December 31, 2016. Round all computations to the nearest dollar