Question: From the following data, prepare a consolidated balance sheet and a multiple-step income statement for Amundsen Data Corporation. All data are in millions and pertain
From the following data, prepare a consolidated balance sheet and a multiple-step income statement for Amundsen Data Corporation. All data are in millions and pertain to operations for 20X2 or to balances on December 31, 20X2:
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Short-term investments at current market value Income tax expense Accounts receivable, net Noncontrolling interest in subsidiaries Inventories at average cost Dividends declared and paid on preferred stock Equity in earnings of affiliated companies Paid-in capital in excess of par Interest expense Retained earnings Investments in affiliated companies Common stock, 10 million shares, $1 par Depreciation and amortization Accounts payable Cash First mortgage bonds, 10% interest, due December 31, 20X8 Property, plant, and equipment, net Preferred stock, 2 million shares, $50 par, dividend rate is $5 per $ 45 90 110 90 390 10 20 82 30 223 110 10 40 205 60 90 120 share, each share is convertible into one share of common stock Accrued income taxes payable Cost of goods sold and operating expenses, exclusive of depreciation 100 35 and amortization Subordinated debentures, 11% interest, due December 31, 20X9 Noncontrolling interest in subsidiarles' net income Goodwill Net sales and other operating revenue 785 100 20 100 1,060
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