The trial balances of Parker and Sargent companies of Exercise 7 for December 31, 2016, are presented as follows:

Parker Company continues to use the cost method.
1. Prepare all the eliminations and adjustments that would be made on the 2016 consolidated worksheet.

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Parker 102,000 400,000 Sargent 115,000 200,000 30,000 40,000) Current Assets Depreciable Fixed Assets Accumulated Depreciation Investment in Sargent Company Current Liabilities Common Stock ($10 par Retained Eamings, January 1,2016 Sales Expenses Dividend Income (from Sargent Company) Dividends Declared 300,000 (80,000 (300,000 100,000] (244,000) (170,000) (200,000 100,000] 85,000 160,000 (8,0001 10,000 Totals