Owl Corporation acquired 90% of Barn Corporation on January 1, 2015 for							72,000	cash
At this date, Barn's stockholders' equity consisted of
			Common stock				30,000
			Retained earnings				30,000
Barn's noncontrolling interest was deemed to be worth							8,000
The difference between the price paid by Owl and the underlying equity acquired in Barn
was allocated to a plant asset with a remaining straight-line life of							10	years
			It was overvalued by				5,000
The remainder was attributable to goodwill.
Barn Corporation's accumulated depreciation on the date of acquisition							197,000

Complete the below consolidation working papers for Owl and Barn for 2015
				Owl	Barn	Debit	Credit	Consol.
Sales				60,000	22,000
Cost of sales				-13,000	-9,500
Depreciation expense				-2,000	-3,000
Other expenses				-23,000	-6,100
Income from Barn				3,510
Consolidated net income				25,510	3,400
Net income attributable to NCI
Net income attributable to parent				25,510	3,400
Beginning retained earnings				25,000	30,000
Net income				25,510	3,400
Dividends				-15,000	-3,000
Ending retained earnings				35,510	30,400
Cash				26,520	7,000
Accounts receivable				22,000	10,000
Inventories				20,000	14,000
Land				27,000	42,000
Buildings & equipment				270,000	238,000
Accumulated depreciation				-200,000	-200,000
Investment in Barn				72,810
Goodwill
Total assets				238,330	111,000
Accounts payable				32,820	50,600
Common stock				170,000	30,000
Retained earnings				35,510	30,400
Non-controlling interest
Total liabilities & stockholders' equity				238,330	111,000