Question: (Module 2 only) Mini Review: Consolidation (no worksheet): Equity Method The following six accounts appear on the separate company financial statements (as opposed to a

(Module 2 only) Mini Review: Consolidation (no worksheet): Equity Method The following six accounts appear on the separate company financial statements (as opposed to a trial balance) of a parent and its 100%-owned subsidiary (created in 2001) at the end of 2007:

1 What consolidation entries are required at 12/31/07?
2 What is the consolidated retained earnings amount at 3 What amount is reported as dividends in the consolidated statement of retained earnings for 2007?
4 What is the consolidated net income for 2007?

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