On August 1, 2016, Post Inc acquired 100% of the stock of Stone Company. At the time of the purchase, Post and Stone had Retained Earnings of $180,000 and $90,000 respectively. At the end of the year on December 31, 2016, Post and Stone had Retained Earnings of $216,000 and $108,000 respectively. When Post's December 31, 2016 consolidated balance sheet was prepared, what retained earnings balance should have been included on that balance sheet?

Answer rating: 100% (QA)

To determine the retained earnings balance that should have been included on Posts consolidated bala... View the full answer