PROBLEM 4 (15 POINTS) Required: Prepare the necessary elimination entry and complete the below balance sheet. If you need full credit, show all intermediate steps with calculations. Data Parent's share of subsidiary FV of Sub's assets Current assets Non current assets 76% 35,500 56,300 FV of Sub's liabilities Current liabilities 37,200 ASSETS Parent Balance Sheet LIABILITIES AND STOCKHOLDERS' EQUITY Consol Parent Sub lim'n Consol Sub Flim'n 38,000 49,000 68,400 Current liabilities Minority Interest 57,000 Current Assets Investment in Subsidiary Goodwill Non-Current assets 39,000 51.600 50.000 112.000 49.000 Common stock TOTAL LIAB & EQUITY TOTAL ASSETS 169.000 88.0.0.0 169.000 8.000 Elimination Entry PROBLEM 4 (15 POINTS) Required: Prepare the necessary elimination entry and complete the below balance sheet. If you need full credit, show all intermediate steps with calculations. Data Parent's share of subsidiary FV of Sub's assets Current assets Non current assets 76% 35,500 56,300 FV of Sub's liabilities Current liabilities 37,200 ASSETS Parent Balance Sheet LIABILITIES AND STOCKHOLDERS' EQUITY Consol Parent Sub lim'n Consol Sub Flim'n 38,000 49,000 68,400 Current liabilities Minority Interest 57,000 Current Assets Investment in Subsidiary Goodwill Non-Current assets 39,000 51.600 50.000 112.000 49.000 Common stock TOTAL LIAB & EQUITY TOTAL ASSETS 169.000 88.0.0.0 169.000 8.000 Elimination Entry