Consolidated worksheet

Sheet1

			Consolidation Entries
	Innovus	ChipTech		Debit		Credit	Consolidated
Revenues	(990,000)	(210,000)
Cost of Goods Sold	500,000	90,000
Depreciation Expense	100,000	5,000
Amortization Expense	55,000	18,000
Dividend Income	(40,000)	- 0
Net Income	(375,000)	(97,000)
Retained Earnings 1/1	(1,555,000)	(450,000)
Net Income	(375,000)	(97,000)
Dividends Declared	250,000	40,000
Retained Earnings 12/31	(1,680,000)	(507,000)
Current Assets	960,000	355,000
Investment in ChipTech	670,000
Equipment (net)	765,000	225,000
Trademark	235,000	100,000
Existing Technology	- 0	45,000
Goodwill	450,000	- 0
Total Assets	3,080,000	725,000
Liabilities	(780,000)	(88,000)
Common Stock	(500,000)	(100,000)
Additional Paid-in-Capital	(120,000)	(30,000)
Retained Earnings 12/31	(1,680,000)	(507,000)
Total Liabilities and Equity	(3,080,000)	(725,000)