a) Provide all consolidation journal entries for the previous problem, and all related analysis to determine the amounts for these

consolidation entries. Show all your calculations.

b) Provide all related analysis to determine the Non-Controlling Interest amounts. Show all your calculations.

PADRE INC AND SIERRA CORPORATION Consolidated Worksheet For Year Ending December 31, 2021 Consolidation Entries Accounts Debit Credit Noncontrolling Interest Consolidated Totals $ (2,094,690) 1,170,000 306,100 11,950 55,850 Padre Sierra $(1,488,840) S (605,850) 790,000 380,000 294,000 13,500 0 6.450 48,000 5,900 (155,160) 0 $ (512,000) $ (200,000) 1,400 5,500 1,950 155 160 Revenues Cost of goods sold Depreciation expense Amortization expense Interest expense Equity in income of Sierra Separate company net income Consolidated net income NI to noncontrolling interest Ni to Padre Company Retained earnings 1/121 Net income Dividends declared Retained earnings 12/31/21 444.000 $(1,500,000) S (444.000) (512.000) (200.000) 260.000 65.000 $(1752.000) S (579.000) S (550 790) (38.790) 38,790 $ (512.000) $(1.500.000) (512.000) 13,000 260.000 15 (1752 00011 52.000 52,000 13,000 260 000 $ (1,752,000) $ 1,693 010 933,240 0 260.000 65,000 $(1,752,000) $ (579,000) $ 1073,760 $ 619,250 881,240 0 388,000 66,700 925,000 318,500 0 122,550 $ 3,268,000 $ 1,127 000 $ (266,000) $ (240,000) 500.000) (148,000) 52,000 257,000 1,400 110,000 Dividends declared Retained earnings, 12/31/21 Current assets Investment in Sierra Land Buildings and equipment (net) Copyright Total assets Accounts payable Notes payable NCI in Sierra 1/1 NCI in Sierra 12/31 Common stock Additional paid in capital Retained eamings (above) Total liabilities and equities 14,000 5,500 711,700 1,230.900 227,050 3.862,660 (506,000) (634 350) $ s 15 600 1 950 194 520 (194,520) (246,310) $ (300,000) (100,000) 100.000 (450,000) (60.000) 80.000 (1.752,000) (579.000) $13,268,000) ${1.127.000) $ 1202,610 $ 1 202 610 246,310 (300,000) (450,000) (1.752,000) S (3.862 660)