The trial balances of Parker and Sargent companies of Exercise 5 for December 31, 2016, are presented

Question:

The trial balances of Parker and Sargent companies of Exercise 5 for December 31, 2016, are presented as follows:

Parker Company continues to use the sophisticated equity method.
1. Prepare all the eliminations and adjustments that would be made on the 2016 consolidated worksheet.
2. If you did not solve Exercise 4, prepare the 2016 consolidated income statement and its related income distribution schedules.

Consolidated Income Statement
When talking about the group financial statements the consolidated financial statements include Consolidated Income Statement that a parent must prepare among other sets of consolidated financial statements. Consolidated Income statement that is... Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...