. . . . . . . 102,000 115,000 Depreciable Fixed Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400,000 200,000 Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (130,000) (40,000) Investment in Sargent Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 320,000 Current Liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (80,000)
The
Parker Sargent
Current Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102,000 115,000
Investment in Sargent Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 320,000
Current Liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (80,000)
Common Stock ($10 par) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (300,000)(100,000)
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (200,000(100,000)
Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 160,000 85,000
Subsidiary Income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (12,000)
Dividends Declared. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000
Totals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0
Parker Company continues to use the simple equity method.
1. Prepare all the eliminations and adjustments that would be made on the 2016 consolidated worksheet.
2. Prepare the 2016 consolidated income statement and its related income distribution
schedules.
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what was used to calculate the internallly generated net income to get 15000 and the 40000
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