Some of the separate accounts from the balance sheets for A Company and B Company, just after A Company purchased 85 per cent of B Company’s voting shares for 1,530,000 in cash, follow:

Accounts Receivable and Accounts Payable included the following: B Company owed A Company 100,000 for services rendered, and A Company owed B Company 132,000 for purchases of goods. A bought B Company's bonds for an amount equal to B's carrying amount of the bonds. Determine the amount, including minority interest, that would appear on the consolidated balance sheet for each of the accounts listed. of these two companies for the year ended December 31, 20x1 appear below. Also assume the following information:

(a) Cardwell Company purchased 560,000 of inventory from Polonia Company, which had been sold to Cardwell Company customers by the end of the year.

(b) Cardwell Company leased its building from Polonia Company for 120,000 per year. Prepare a consolidated income statement work sheet for the two companies for the year ended December 31, \(20 x 1\). Ignore income taxes.

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Accounts Receivable Interest Receivable, Bonds of B Company Investment in B Company Investment in B Company Bonds Accounts Payable Interest Payable, Bonds Bonds Payable Ordinary Shares Retained Earnings A Company 2,600,000 B Company 800,000 14,400 1,530,000 360,000 1,060,000 380,000 64,000 40,000 1,600,000 1,000,000 2,000,000 1,200,000 1,120,000 600,000