PAVIN AND STABLER Consolidation Worksheet For Year Ending December 31, 2018 Consolidation Entries Consolidated Accounts Pavin Stabler Debit Credit Totals S (743,000)(507,000) 241,000 159,500 Revenues Cost of goods sold Expenses Interest expense-bonds Interest income-bond investment Loss on extinguishment of bonds Equity in income of Stabler 456,000 126,000 37,000 (17,150) (123,650) S 247,650)(123,650) Net income Retained earnings, 1/1/18 Retained earnings, 1/1/18 Net income Dividends paid Retained earnings, 12/31/18 Cash and receivables Inventory Investment in Stabler Investment in Pavin Land, buildings, and equipment (net) Trademarks (346,000) (363,000) (123,650) 66,000 S (437,650)(420,650) 36,000 88,000 (247,650) 156,000 $218,000$ 176,000 613,650 151,750 246,000 542,000 $ 1,253,650$ 817,750 (209,000) (310,000) Total assets Accounts payable Bonds payable Discount on bonds Common stock Retained earnings Total liabilities and stockholders' equity$ (1,253,650) $ (817,750) (175,100) (101,000) 13,000 (310,000) (437,650) (121,000) (420,650) PAVIN AND STABLER Consolidation Worksheet For Year Ending December 31, 2018 Consolidation Entries Consolidated Accounts Pavin Stabler Debit Credit Totals S (743,000)(507,000) 241,000 159,500 Revenues Cost of goods sold Expenses Interest expense-bonds Interest income-bond investment Loss on extinguishment of bonds Equity in income of Stabler 456,000 126,000 37,000 (17,150) (123,650) S 247,650)(123,650) Net income Retained earnings, 1/1/18 Retained earnings, 1/1/18 Net income Dividends paid Retained earnings, 12/31/18 Cash and receivables Inventory Investment in Stabler Investment in Pavin Land, buildings, and equipment (net) Trademarks (346,000) (363,000) (123,650) 66,000 S (437,650)(420,650) 36,000 88,000 (247,650) 156,000 $218,000$ 176,000 613,650 151,750 246,000 542,000 $ 1,253,650$ 817,750 (209,000) (310,000) Total assets Accounts payable Bonds payable Discount on bonds Common stock Retained earnings Total liabilities and stockholders' equity$ (1,253,650) $ (817,750) (175,100) (101,000) 13,000 (310,000) (437,650) (121,000) (420,650)