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Cons Worksheet

(1)	Flathead Corporation ans Ribbon Company
	Consolidation Worksheet
	For Year Ended December 31, 20Y2
				Consolidation Entries
		Flathead Corporation	Ribbon Company		Debit	Credit	Noncontrolling Interest	Consolidated Totals
	Income Statement
	Revenues	$ (894,600)	$ (652,400)					$ (1,547,000)
	Cost of Goods Sold	483,000	277,200					760,200
	Operating Expenses	187,600	213,084					400,684
	Interest Revenue--Bonds	25,012	11,200					36,212
	Interest Expense--Bond Investment	0	(14,284)					(14,284)
	Equity in Earnings of Ribbon Company	(132,160)	0					(132,160)
	Net Income	$ (331,148)	$ (165,200)					$ (496,348)
	Consolidated Net Income
	NCI in Ribbon Company Net Income
	Controlling Interest Net Income
	Statement of Retained Earnings
	Retained Earnings, 1/1/Y2	$ (483,000)	$ (505,400)					$ (988,400)
	Net Income (From Above)	(331,148)	(165,200)					(496,348)
	Dividends Paid	217,000	85,400					302,400
	Retained Earnings, 12/31/Y2	$ (597,148)	$ (585,200)					$ (1,182,348)
	Balance Sheet
	Cash and Receivables	$ 292,324	$ 86,846					$ 379,170
	Inventory	239,400	121,800					361,200
	Investment in Ribbon Company	704,560	0					704,560
	Investment in Flathead Corporation Bonds	0	159,554					159,554
	Land, Buildings, and Equipment (net)	348,600	757,400					1,106,000
	Total Assets	$ 1,584,884	$ 1,125,600					$ 2,710,484
	Accounts Payable	$ (315,000)	$ (232,400)					$ (547,400)
	Bonds Payable	(280,000)	(140,000)					(420,000)
	Discount on Bonds Payable	27,264	0					27,264
	Common Stock	(420,000)	(168,000)					(588,000)
	NCI in Ribbon Company, 1/1/Y2						0
	NCI in Ribbon Company, 12/31/Y2							0
	Retained Earnings, 12/31/Y2 (From Above)	(597,148)	(585,200)					(1,182,348)
	Total Liabilities and Stockholders' Equity	$ (1,584,884)	$ (1,125,600)		$ -	$ -		$ (2,710,484)
	Explanations:
(A)
(B)
( C)
(D)
( E)
(F)
(G)
(H)
(I)

Cons Income Statement

(2)	Flathead Corporation and Subsidiary Ribbon Company
	Computation of Consolidated Net Income assigned to
	Noncontrolling Interest
	For the Year Ended December 31, 20Y2
	Calculation of Ribbon Company Net Income
	Revenues
	Cost of Goods Sold
	Gross Profit
	Operating Expenses:
	Depreciation Expense
	Other Expense
	Total Operating Expenses
	Operating Income
	Other Revenues and Gains:
	Interest Revenue--Bond Investment
	Other Expenses and Losses:
	Interest Expense--Bonds
	Total Other Revenues/Gains and Other Expenses/Losses
	Net Income
	Net Income of Ribbon Company
	Times Noncontrolling Interest Percentage
	Noncontrolling Interest Share of Ribbon Net Income
	Adjustments:
	Amortization of Equipment
	Amortization of Copyright
	Total Adjustments
	Consolidated Net Income Assigned to Noncontrolling Interest

Cons Balance Sheet

(3)	Flathead Corporation and Ribbon Company
	Consolidated Balance Sheet
	December 31, 20Y2
	Assets
	Cash and Receivables
	Inventory
	Investment in Ribbon Company
	Investment in Flathead Corporation Bonds
	Land, Buildings, and Equipment (net)
	Total Assets
	Liabilitie and Stockholders' Equity
	Accounts Payable
	Bonds Payable
	Discount on Bonds Payable
	Common Stock
	NCI in Ribbon Company, 1/1/Y2
	NCI in Ribbon Company, 12/31/Y2
	Retained Earnings, 12/31/Y2 (From Above)
	Total Liabilities and Stockholders' Equity