Additional information for 2011 the combination occurred

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Reference no: EM13575294

Anderson Inc. has owned 70% of its subsidiary Arthur Corp., for several years. The consolidated balance sheets of Anderson, Inc. and Arthur Corp are presented below:

2011 2010

Cash . . . . . . . . . . . . . . . 8,000 26,000

Accounts receivable (net) 75,000 54,000

Inventory 100,000 89,000

Plant & Equipment (net) 156,000 170,000

355,000 357,000

Accounts payable . . . . . . 60,000 51,000

Long term debt 0 35,000

Non-controlling Interest 27,000 25,000

Common Stock $ 1 Par 100,000 100,000

Retained earnings 168,000 146,000

355,000 357,000

Additional information for 2011: The combination occurred using the acquisition method. Consolidated net income was $ 50,000 The non-controlling interest share of consolidated net income of ARthur was 3,200.

Arthur paid $ 4,000 in dividends.

There were no disposals of plant & equipment or copyright this year.

Reference no: EM13575294

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