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Prepare consolidated balance sheet and income statement for Company A and Company B, with the following information: Company A: Assets $200,000, Liabilities $80,000, Equity $120,000,

Prepare consolidated balance sheet and income statement for Company A and Company B, with the following information:

  • Company A: Assets $200,000, Liabilities $80,000, Equity $120,000, Net Income $40,000
  • Company B: Assets $300,000, Liabilities $100,000, Equity $200,000, Net Income $60,000

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