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Your answer is partially correct. Try again. Price Company purchased 90% of the outstanding common stock of Score Company on January 1, 2011, for $456,480. At that time, Score Company had stockholders' equity consisting of common stock, $201,100; other contributed capital, $163,000; and retained earnings, $90,000. On December 31, 2015, trial balances for Price Company and Score Company were as follows: Cash Accounts Receivable Note Receivable Inventory Investment in Score Company Plant and Equipment Land Dividends Declared Cost of Goods Sold Other Expenses Total Debits Price Score $110,800 $78,200 165,600 94,800 75,900 -0- 303,500 156,700 456,480 -0- 958,700 420,800 161,100 70,700 71,200 49,000 825,800238,200 251,700 122,300 $3,380,780 $1,230,700 Accounts Payable Notes Payable Common Stock Other Contributed Capital Retained Earnings, 1/1 Sales Dividend and Interest Income Total Credits $131,500 $46,200 300,900 117,900 507,900 201,100 264,200 163,000 688,200 211,400 1,436,390 491,100 51,690 -0- $3,380,780 $1,230,700 Dividend and Interest Income Total Credits 51,690 -0- $3,380,780 $1,230,700 Price Company's note receivable is receivable from Score Company. Interest of $7,590 was paid by Score to Price during 2015. Any difference between book value and the value implied by the purchase price relates to goodwill. Prepare a consolidated statements workpaper on December 31, 2015. (List items that increase retained earnings first.) Price Company and Subsidiary Consolidated Statements Workpaper For the Year Ended December 31, 2015 Price Score Eliminating Entries Company Company Dr. Cr. Noncontrolling Interest Consolidated Balance Income Statement G Sales 1,436,390 491,100 1927,490 = Dividend and Interest Income 51,690 7,590 7,59 51,690 Total Revenues 1,488,080 7 1,979,180 491,100 238,200 Cost of Goods Sold 825,800 iddiddo 238,200 1,064,000 Other Expenses T 251,700 122,300 7,590 366,410 Total Cost and Expense 1,438,000 | 1,077,500 360,500 Huma Price Company and Subsidiary Consolidated Statements Workpaper For the Year Ended December 31, 2015 Price Score Eliminating Entries Company Company Cr. Noncontrolling Interest Consolidated Balance Dr. Income Statement Sales 71,436,390 491,100 1,927,490 Dividend and Interest Income 51,690 T 7,590 51,690 Total Revenues 1,488,080 491,100 1,979,180 Cost of Goods Sold 825,800 238,200 | 1,064,000 other Expenses HUHE BOTTO 251,700 I 122,300 7,590 366,410 Total Cost and Expense T 360,500 1,438,000 Net Income 1 410,580 130,600 541,180 Noncontrolling Interest 13,060 13,060 Net Income to Retained Earnings 410,580 130,600 7,590 7,590 13,060 554,240 Retained Earnings 1/1 | 688,200 T 211,400 211,400 688,200 Net Income 410,580 130,600 7,590 7,590 13,060 410,580 Dividends Declared T 71,200 49,000 44,100 4,900 71,200 TRetained Earnings 12/31 11,027,580 293,000 218,990 51,690 8,160 1,027,580 Balance Sheet Cash 110,800 78,200 T 189,000 HANHIT ANOO THULIT DITHI UUUUUUU DIET Accounts Receivable 165,600 94,800 T 260,400 Note Receivable 75,900 T 75,900 Inventory T 303,500 156,700 T 460,200 Investment in Subsidiary 1 456,480 456,480 Difference between Implied and Book Value 50,7201 Plant and Equipment 958,700 420,800 | 1,379,500 Balance Sheet Cash T 110,800 78,200 189,000 Accounts Receivable 165,600 1 94,800 260,400 Note Receivable 75,900 75,900 Inventory 303,500 156,700 460,200 Investment in Subsidiary 456,480 456,480 Difference between Implied and Book Value 50,720 50,720 H BOTHALA ANAT N HIDUVALHO I tidniidilt Ti finitull Plant and Equipment 958,700 420,800 1,379,500 Land T 161,100 70,700 231,800 Goodwill 50,720 50,720 Total 2,232,0 2,571,620 Accounts Payable 131,500 46,200 177,700 Notes Payable T 300,900 T 117,900 T 75,900 342,900 GOODWII U 50,72011 | 50,72011 Total | 2,232,080 T 821,200 2,571,620 Accounts Payable 1 131,500 46,200 177,700 Notes Payable T 300,900 T 117,900 75,900 342,900 Common Stock T 507,900 201,100 201,100 507,900 Other Contributed Capital 264,200 163,000 163,000 264,200 Retained Earnings 1,027,580 T 293,000 293,000 8,160 1,027,580 Noncontrolling Interest 1/1 13,060 Noncontrolling Interest 12/31 21,220 2,232,080 821,200 733,000 2,571,620 $