Research a company that has an equity investment in a company and summarize the effect that the consolidation had on the income statement and balance sheet of the parent.

• Why must the eliminating entries be entered in the consolidated worksheet each time consolidation statements are prepared?
• How is the beginning-of-period non-controlling interest balance determined?
• How is the end-of-period non-controlling interest balance determined?
• Which of the subsidiaries accounts must be eliminated?
• Which of the parent company's accounts must be eliminated?