Question: I need help figuring out the EOY NONCONTROLLING INTEREST EQUITY Income Statement Kuebler Eastwood Sales $860,000 $750,000 Cost of goods sold -458,000 -430.000 Gross Profit

I need help figuring out the EOY NONCONTROLLING INTEREST EQUITY

I need help figuring out the EOY NONCONTROLLING INTEREST EQUITY Income Statement

Income Statement Kuebler Eastwood Sales $860,000 $750,000 Cost of goods sold -458,000 -430.000 Gross Profit 402,000 320,000 Income (loss) from subsidiary 10,000 Operating expenses -158,000 -165.000 Net income $254,000 $155,000 Statement of Retained Earnings Kuebler Eastwood BOY Retained Earnings $878,440 $420,000 Net income 254,000 155,000 Dividends -175,000 -12,500 Ending Retained Earnings $957.440 $562.500 Balance Sheet Kuebler Eastwood Assets: Cash $55,000 $54,000 Accounts receivable 46,000 24,000 Inventory 95,000 95,112 Investment in subsidiary 834,880 PPE, net 340,060 1,873,188 $1,370,940 $2,046,300 Liabilities and Stockholders' Equity: Current Liabilities $75,000 $400,200 Long-term Liabilities 150,000 790,000 Common Stock 63,500 118, 100 APIC 125,000 175,500 Retained Earnings 957,440 562,500 $1,370,940 $2,046,300

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!