Question: Hi could you help me with this question, I'm not sure how to do it? Price Company purchased 90% of the outstanding common stock of

 Hi could you help me with this question, I'm not surehow to do it? Price Company purchased 90% of the outstanding common

Hi could you help me with this question, I'm not sure how to do it?

stock of Score Company on January 1, 2011, for $458,550. At thattime, Score Company had stockholders' equity consisting of common stock, $203,200; othercontributed capital, $162,700; and retained earnings, $90,600. On December 31, 2015, trial

Price Company purchased 90% of the outstanding common stock of Score Company on January 1, 2011, for $458,550. At that time, Score Company had stockholders' equity consisting of common stock, $203,200; other contributed capital, $162,700; and retained earnings, $90,600. On December 31, 2015, trial balances for Price Company and Score Company were as follows: Cash $109,700 $76,600 Accounts Receivable 164,400 92,200 Note Receivable 74,600 0 Inventory 315,000 160,400 Investment in Score Company 458,550 0 Plant and Equipment 922,500 414,800 Land 159,200 70,500 Dividends Declared 71,100 49,400 Cost of Goods Sold 818,200 240,000 Other Expenses 251,500 124,300 Total Debits $3,344,750 $1,228,200 Accounts Payable $134,400 $45,500 Notes Payable 297,600 120,700 Common Stock 494,900 203,200 Other Contributed Capital 261,900 162,700 Retained Earnings, 1/1 678,300 211,300 Sales 1,425,730 484,800 Dividend and Interest Income 51,920 0 Total Credits $3,344,750 $1,228,200 Price Company's note receivable is receivable from Score Company. Interest of $7,460 was paid by Score to Price during 2015. Any difference between book value and the value implied by the purchase price relates to goodwill. Prepare a consolidated statements workpaper on December 31, 2015. (List items that increase retained earnings rst.) Price Company and Subsidiary Consolidated Statements Workpaper For the Year Ended December 31, 2015 Income Statement ' 'm i E M , ' Ivl A 'm Retalned Earnlngs Statement [:1 :1 [m ''?1

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