Prepare a worksheet of a data given below. c. Prepare a three-part worksheet as of December 31,

Prepare a worksheet of a data given below.

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c. Prepare a three-part worksheet as of December 31, 20X5. Note: Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be Indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries Into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Answer is not complete. PIZZA CORPORATION AND SUBSIDIARY Worksheet for Consolidated Financial Statements December 31, 20X5 Pizza Corporation Slice Products Company Consolidation Entries Consolidated Debit Credit Income Statement Sales Less: COGS $ 202,000 $ 109,000 $ 311,000 (115,000) (42,000) (157,000) Less: Depreciation expense (21,000) (11,000) 4,600 (36,600) Less: Inventory losses (11,000) (6,000) (17,000) Income from Slice Products Company 36.320 0 40,000 3,680 0 Consolidated net income $ 91,320 $ 50,000 $ 44,600 $ 3,680 $ 100,400 NCI in net income Controlling Interest in Net Income $ 91,320 $ 50,000 $ 10,000 54,600 920 (9,080) $ 4,600 $ 91,320 Statement of Retained Earnings Beginning balance $ 313,000 $ 82,000 $ 82,000 $ 313,000 Net income 91,320 50,000 54,600 4,600 91,320 Less: Dividends declared (48,000) (26,000) 26,000 (46,000) Ending Balance $ 358,320 S 106,000 $ 136,600 $ 30,600 $ 358,320 Balance Sheet Cash and receivables $ 81,000 $ 70,000 Inventory 265,000 106,000 Land 84,000 84,000 Buildings and equipment 512,000 159,000 46,000 Less: Accumulated depreciation (191,000) (77,000) 23,000 Investment in Slice Products Company 176,800 176,800 $ 12,000 $ 139,000 371,000 168,000 717,000 (291,000) 0 Total Assets S 927,800 $ Accounts payable $ 55,000 $ Notes payable 215,480 342,000 19,000 125,000 $ 46,000 $ 12,000 $ 211,800 $ 1,104,000 $ 62,000 340,480 Common stock 299,000 Retained earnings 358,320 92,000 106,000 92,000 136,600 299,000 NCI in NA of Slice Products Company 30,600 44,200 358,320 44,200 Total Liabilities and Equity $ 927,800 $ 342,000 $ 240,600 $ 74,800 $ 1,104,000 c. Prepare a three-part worksheet as of December 31, 20X5. Note: Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be Indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries Into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Answer is not complete. PIZZA CORPORATION AND SUBSIDIARY Worksheet for Consolidated Financial Statements December 31, 20X5 Pizza Corporation Slice Products Company Consolidation Entries Consolidated Debit Credit Income Statement Sales Less: COGS $ 202,000 $ 109,000 $ 311,000 (115,000) (42,000) (157,000) Less: Depreciation expense (21,000) (11,000) 4,600 (36,600) Less: Inventory losses (11,000) (6,000) (17,000) Income from Slice Products Company 36.320 0 40,000 3,680 0 Consolidated net income $ 91,320 $ 50,000 $ 44,600 $ 3,680 $ 100,400 NCI in net income 10,000 920 (9,080) Controlling Interest in Net Income $ 91,320 $ 50,000 $ 54,600 $ 4,600 $ 91,320 Statement of Retained Earnings Beginning balance $ 313,000 $ 82,000 $ 82,000 $ 313,000 Net income 91,320 50,000 54,600 4,600 91,320 Less: Dividends declared (48,000) (26,000) 26,000 (46,000) Ending Balance $ 358,320 S 106,000 $ 136,600 $ 30,600 $ 358,320 Balance Sheet Cash and receivables $ 81,000 $ 70,000 $ 12,000 $ 139,000 Inventory 265,000 106,000 371,000 Land 84,000 84,000 168,000 Buildings and equipment 512,000 159,000 46,000 717,000 Less: Accumulated depreciation (191,000) (77,000) 23,000 (291,000) Investment in Slice Products Company 176,800 176,800 0 Total Assets S 927,800 $ Accounts payable $ 55,000 $ Notes payable 215,480 342,000 19,000 125,000 $ 46,000 $ 12,000 $ 211,800 $ 1,104,000 $ 62,000 340,480 Common stock 299,000 Retained earnings 358,320 92,000 106,000 92,000 136,600 299,000 NCI in NA of Slice Products Company 30,600 44,200 358,320 44,200 Total Liabilities and Equity $ 927,800 $ 342,000 $ 240,600 $ 74,800 $ 1,104,000 c. Prepare a three-part worksheet as of December 31, 20X5. Note: Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be Indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries Into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Answer is not complete. PIZZA CORPORATION AND SUBSIDIARY Worksheet for Consolidated Financial Statements December 31, 20X5 Pizza Corporation Slice Products Company Consolidation Entries Consolidated Debit Credit Income Statement Sales Less: COGS $ 202,000 $ 109,000 $ 311,000 (115,000) (42,000) (157,000) Less: Depreciation expense (21,000) (11,000) 4,600 (36,600) Less: Inventory losses (11,000) (6,000) (17,000) Income from Slice Products Company 36.320 0 40,000 3,680 0 Consolidated net income $ 91,320 $ 50,000 $ 44,600 $ 3,680 $ 100,400 NCI in net income Controlling Interest in Net Income $ 91,320 $ 50,000 $ 10,000 54,600 920 (9,080) $ 4,600 $ 91,320 Statement of Retained Earnings Beginning balance $ 313,000 $ 82,000 $ 82,000 $ 313,000 Net income 91,320 50,000 54,600 4,600 91,320 Less: Dividends declared (48,000) (26,000) 26,000 (46,000) Ending Balance $ 358,320 S 106,000 $ 136,600 $ 30,600 $ 358,320 Balance Sheet Cash and receivables $ 81,000 $ 70,000 Inventory 265,000 106,000 Land 84,000 84,000 Buildings and equipment 512,000 159,000 46,000 Less: Accumulated depreciation (191,000) (77,000) 23,000 Investment in Slice Products Company 176,800 176,800 $ 12,000 $ 139,000 371,000 168,000 717,000 (291,000) 0 Total Assets S 927,800 $ Accounts payable $ 55,000 $ Notes payable 215,480 342,000 19,000 125,000 $ 46,000 $ 12,000 $ 211,800 $ 1,104,000 $ 62,000 340,480 Common stock 299,000 Retained earnings 358,320 92,000 106,000 92,000 136,600 299,000 NCI in NA of Slice Products Company 30,600 44,200 358,320 44,200 Total Liabilities and Equity $ 927,800 $ 342,000 $ 240,600 $ 74,800 $ 1,104,000 c. Prepare a three-part worksheet as of December 31, 20X5. Note: Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be Indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries Into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Answer is not complete. PIZZA CORPORATION AND SUBSIDIARY Worksheet for Consolidated Financial Statements December 31, 20X5 Pizza Corporation Slice Products Company Consolidation Entries Consolidated Debit Credit Income Statement Sales Less: COGS $ 202,000 $ 109,000 $ 311,000 (115,000) (42,000) (157,000) Less: Depreciation expense (21,000) (11,000) 4,600 (36,600) Less: Inventory losses (11,000) (6,000) (17,000) Income from Slice Products Company 36.320 0 40,000 3,680 0 Consolidated net income $ 91,320 $ 50,000 $ 44,600 $ 3,680 $ 100,400 NCI in net income 10,000 920 (9,080) Controlling Interest in Net Income $ 91,320 $ 50,000 $ 54,600 $ 4,600 $ 91,320 Statement of Retained Earnings Beginning balance $ 313,000 $ 82,000 $ 82,000 $ 313,000 Net income 91,320 50,000 54,600 4,600 91,320 Less: Dividends declared (48,000) (26,000) 26,000 (46,000) Ending Balance $ 358,320 S 106,000 $ 136,600 $ 30,600 $ 358,320 Balance Sheet Cash and receivables $ 81,000 $ 70,000 $ 12,000 $ 139,000 Inventory 265,000 106,000 371,000 Land 84,000 84,000 168,000 Buildings and equipment 512,000 159,000 46,000 717,000 Less: Accumulated depreciation (191,000) (77,000) 23,000 (291,000) Investment in Slice Products Company 176,800 176,800 0 Total Assets S 927,800 $ Accounts payable $ 55,000 $ Notes payable 215,480 342,000 19,000 125,000 $ 46,000 $ 12,000 $ 211,800 $ 1,104,000 $ 62,000 340,480 Common stock 299,000 Retained earnings 358,320 92,000 106,000 92,000 136,600 299,000 NCI in NA of Slice Products Company 30,600 44,200 358,320 44,200 Total Liabilities and Equity $ 927,800 $ 342,000 $ 240,600 $ 74,800 $ 1,104,000