Problem 4-7 Price Company purchased 90% of the outstanding common stock of Score Company on January 1, 2011, for $448,290. At that time, Score Company had stockholders' equity consisting of common stock, $203,800; other contributed capital, $161,300; and retained earnings, $91,600. 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 $110,200 $77,800 164,300 95,000 75,900 -0- 304,400 159,200 448,290 -0- 952,200 423,200 161,600 70,500 70,100 50,500 835,700 240,300 248,900 126,100 $3,371,590 $1,242,600 Accounts Payable Notes Payable Common Stock Other Contributed Capital Retained Earnings, 1/1 Sales Dividend and Interest Income Total Credits $130,500 $45,300 296,700 121,100 493,200 203,800 260,700 161,300 683,400 205,800 1,454,050 505,300 53,040 -0- $3,371,590 $1,242,600 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. Dr. Cr. Cr. Noncontrolling Interest Consolidated Balance Income Statement $ $ $ Retained Earnings Statement Balance Sheet Total Total Noncontrolling Interest 1/1 Noncontrolling Interest 12/31