Please, to have my vote, show your calculation

Park Corporation paid $24,800 for an 80% interest in Stay Corporation on January 1, 2019, at which time Stay's stockholders' equity consisted of $15,000 of Common Stock and $6,000 of Retained Earnings. The fair values of Stay Corporation's assets and liabilities were identical to recorded book values when Park acquired its 80% interest.

Stay Corporation reported net income of $4,000 and paid dividends of $2,000 during 2019.

Park Corporation sold inventory items to Stay during 2019 and 2020 as follows:

2019 2020

Park's sales to Stay $5,000 $6,000

Park's cost of sales to Stay 3,000 3,500

Unrealized profit at year-end 1,000 1,500

At December 31, 2020, the accounts payable of Stay include $1,500 owed to Park for inventory purchases.

Complete the working papers to consolidate the financial statements of Park Corporation and subsidiary for the year ended December 31, 2020.

Park Stay Consolidated Eliminations Debit Credit $43,000 $20,000 6,700 (22,000) (8,000) (12.200) (3.000) INCOME STATEMENT Sales income from Stay Cost of Sales Other Expenses Noncontrolling interest share Net income Retained Earnings 1/1 Add: Net income Dividends Retained Earnings 12/31 BALANCE SHEET Cash Net Receivables Dividends Receivable Inventories Goodwill $15.500 $9.000 $9,000 $8.000 15,500 9,000 (10,000) (5,000) $ 14,500 $12,000 $5,400 $3,000 14.000 10.000 2,000 18,000 8,000 B326 FTHE V.I Page 4 of 5 Summer 2020-2021 24,000 31,000 28.100 $91,500 $52.000 Plant assets-net Investment in Stay TOTAL ASSETS LIAB. & EQUITY Accounts payable Dividends payable $17,500 $ 12,500 7,000 2,500 Other Debt 12,500 10,000 Capital Stock 40,000 15,000 Retained Earnings 14,500 12,000 1/1 Nonsatrl. Interest 12/31 Noncntrl. Interest TOTAL LIAB. & EQUITIES $91.500 $52.000