Question
Parent Subsidiary Revenues $(1,740,000) $(950,000) Cost of goods sold 820,000 500,000 Depreciation expense 104,000 85,000 Amortization expense 220,000 120,000 Interest expense 20,000 15,000 Equity in
| Parent | Subsidiary |
Revenues | $(1,740,000) | $(950,000) |
Cost of goods sold | 820,000 | 500,000 |
Depreciation expense | 104,000 | 85,000 |
Amortization expense | 220,000 | 120,000 |
Interest expense | 20,000 | 15,000 |
Equity in earnings of Subsidiary | (124,000) | 0 |
Net income | $(700,000) | $(230,000) |
Retained earnings, 1/1/Y3 | $(2,800,000) | $(345,000) |
Net income | (700,000) | (230,000) |
Dividends declared | 200,000 | 25,000 |
Retained earnings, 12/31/Y3 | $(3,300,000) | $(550,000) |
Cash | $535,000 | $115,000 |
Accounts receivable | 575,000 | 215,000 |
Inventory | 990,000 | 800,000 |
Investment in Subsidiary | 1,420,000 | 0 |
Buildings and asset(s) | 1,025,000 | 863,000 |
Patents | 950,000 | 107,000 |
Total assets | $5,495,000 | $2,100,000 |
Accounts payable | $(450,000) | $(200,000) |
Notes payable | (545,000) | (450,000) |
Common stock | (900,000) | (800,000) |
Additional paid-in capital | (300,000) | (100,000) |
Retained earnings, 12/31/18 | (3,300,000) | (550,000) |
Total liabilities and stockholders equity | $(5,495,000) | $(2,100,000) |
Using the information above please help me find ending investment balances of Parent investment in subsidiary and NCIs investment in Subsidiary
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