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Please assist with the following: Reporting of Stockholders' Equity in Consolidation Baylor Company purchased 75% of the common stock of Reed Company for $600,000 in
Please assist with the following:
Reporting of Stockholders' Equity in Consolidation Baylor Company purchased 75% of the common stock of Reed Company for $600,000 in cash when the stockholders' equity of Reed Company consisted of $500,000 in common stock and $300,000 in retained earnings. On the acquisition date, the stockholders' equity of Baylor Company consisted of $900,000 in common stock and $440,000 in retained earnings. Prepare the stockholders' equity section in the consolidated balance sheet as of the acquisition date. Stockholders' Equity Common stock 900,000 Retained earnings 440,000 Baylor Company shareholders' equity $ 1,340,000 V Noncontrolling interests 200,000 154,000 X Total equity
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