H49 A B C D H Dr Cr Consol 40. Below are the balances of the accounts for Flounder and Sole at December 31, 2020. 41 Prepare consolidation entries on the worksheet and complete the consolidatied statements. 42 You must complete the Flounder balance sheet first. 43 44 Flounder Sole 45 Sales 200,000 185,000 46 Cost of Sales 60,000 70,000 47 Operating Expenses 15,000 65,000 48 125,000 50,000 49 Income from Sole 50 Net Income S 50,000 51 52 300,000 30,000 80,000 10,000 120,000 53 Retained Earnings Jan 1 54 Dividends 55 Retained Earnings Dec 31 56 57 Cash 58 Accounts Receivable 59 Inventories 60 61 Investment in Sole 20,000 30,000 90,000 10,000 5,000 20,000 220,000 190,000 63 Property, Plant & Equipment 64 net of depreciation 65 Goodwill 66 Other Intangibles 67 68 30.000 745,500 15,000 240,000 Sheet1 Sheet2 Sheets Ready H49 A B C D H Dr Cr Consol 40. Below are the balances of the accounts for Flounder and Sole at December 31, 2020. 41 Prepare consolidation entries on the worksheet and complete the consolidatied statements. 42 You must complete the Flounder balance sheet first. 43 44 Flounder Sole 45 Sales 200,000 185,000 46 Cost of Sales 60,000 70,000 47 Operating Expenses 15,000 65,000 48 125,000 50,000 49 Income from Sole 50 Net Income S 50,000 51 52 300,000 30,000 80,000 10,000 120,000 53 Retained Earnings Jan 1 54 Dividends 55 Retained Earnings Dec 31 56 57 Cash 58 Accounts Receivable 59 Inventories 60 61 Investment in Sole 20,000 30,000 90,000 10,000 5,000 20,000 220,000 190,000 63 Property, Plant & Equipment 64 net of depreciation 65 Goodwill 66 Other Intangibles 67 68 30.000 745,500 15,000 240,000 Sheet1 Sheet2 Sheets Ready