The stock was Puma Corporation owns 90% orthe cominon stock orsunny Company purchased for $625,500 on January 2016, when Sunny Company's retained earnings were Su T inerence between the price paid by Puma and the underlying equity acquired in Sunny is allocated solely to other assets. During 2018, Puma Corporation made intercompany sales of s250,000 with a margin profit of 25% on cost. The ending invento from Puma for $80,000. ry of Sunny Company includes goods purchased in 2018 Required: Complete the consolidated work paper for Puma and Sunny for the year 2018. Sunny Eliminating Entries No controlling Balance Puma Interest Cr Dr ncome Statement 1210.000 636,000 31.500 880,000408,000 198,000 165,000 63,500 63.000 Sales Dividend Income Cost of Goods Sold Other Expenses Net Income Not income to Retlained 163,50 Noncontrolling Interest 63,000 163,500 6 Retained Earnings Retained Earnings 1/1 Puma Company Sunny Company Net Income from above 598,400 163,500 63,000 (110.000) 144,000 Dividends Declared Puma Company Sunny Company (35,000) etained Earnings 12/31651,900 172,000 Eliminating Entries Noncontrol Consolida Interest Balance Puma Sunny Cr Dr Balance Sheet Cash Accounts Receivable 90,800 9 243.300 135,000 220,000 144,000 625,500 550,000 480,000 96,000 Inventory 12/31 Investment in Sama Other assets Goodwill Total 1.729,600 855,000 77,000 36,000 120,700 47.000 Accounts Payable Other liabilities Common Stock: 880,000 Puma Company Sunny Company 600,000 Retained Earnings from above Noncontrolling Interest 1/1 Noncontrolling Interest 12/31 51,900 172,000 1,729,600 855,000 The stock was Puma Corporation owns 90% orthe cominon stock orsunny Company purchased for $625,500 on January 2016, when Sunny Company's retained earnings were Su T inerence between the price paid by Puma and the underlying equity acquired in Sunny is allocated solely to other assets. During 2018, Puma Corporation made intercompany sales of s250,000 with a margin profit of 25% on cost. The ending invento from Puma for $80,000. ry of Sunny Company includes goods purchased in 2018 Required: Complete the consolidated work paper for Puma and Sunny for the year 2018. Sunny Eliminating Entries No controlling Balance Puma Interest Cr Dr ncome Statement 1210.000 636,000 31.500 880,000408,000 198,000 165,000 63,500 63.000 Sales Dividend Income Cost of Goods Sold Other Expenses Net Income Not income to Retlained 163,50 Noncontrolling Interest 63,000 163,500 6 Retained Earnings Retained Earnings 1/1 Puma Company Sunny Company Net Income from above 598,400 163,500 63,000 (110.000) 144,000 Dividends Declared Puma Company Sunny Company (35,000) etained Earnings 12/31651,900 172,000 Eliminating Entries Noncontrol Consolida Interest Balance Puma Sunny Cr Dr Balance Sheet Cash Accounts Receivable 90,800 9 243.300 135,000 220,000 144,000 625,500 550,000 480,000 96,000 Inventory 12/31 Investment in Sama Other assets Goodwill Total 1.729,600 855,000 77,000 36,000 120,700 47.000 Accounts Payable Other liabilities Common Stock: 880,000 Puma Company Sunny Company 600,000 Retained Earnings from above Noncontrolling Interest 1/1 Noncontrolling Interest 12/31 51,900 172,000 1,729,600 855,000