P Corporation and Subsidiary

Working Paper for consolidated Financial Position

Year Ended December 31 2014

Eliminations
P Company S Company
Dr Cr
Statement of CI
Sales 400,000.00 200,000.00 5.) 20,000.00
Dividend Income 24,000.00 1.) 24,000.00
Total Revenue 424,000.00 200,000.00

COGS 170,000.00 115,000.00 4.) 5,000.00 5.)

6.) 2,000.00
OPEX 50,000.00 20,000.00 4.) 6,000.00
Other Expenses 40,000.00 15,000.00
Total COGS AND EXP 260,000.00 150,000.00
Gain on Acquisition 3.)
CI, carried forward 164,000.00 50,000.00

Statement of R/E
R/E, 1/1: 300,000.00 100,000.00 2.) 100,000.00
CI from Above 164,000.00 50,000.00
Total 464,000.00 150,000.00
Dividends Declared 60,000.00 24,000.00 1.)
R/E, 12/31 404,000.00 126,000.00

Statement of FP
Cash 204,000.00 81,000.00
AR 75,000.00 50,000.00
Invty 100,000.00 75,000.00 3.) 5,000.00 4.)
6.)
PPE 525,000.00 320,000.00 3.) 60,000.00 4.)
Investment in S 300,000.00 2.)

Total Assets 1,204,000.00 526,000.00

Accounts Payable 100,000.00 100,000.00

Bonds Payable 200,000.00 100,000.00
OSC 500,000.00 200,000.00 2.) 200,000.00
R/E, 12/31 404,000.00 126,000.00
Total Liab and Equity 1,204,000.00 526,000.00 422,000.00
Eliminations
Consolidated
Cr

580,000.00
-
580,000.00

20,000.00 272,000.00

76,000.00
55,000.00
403,000.00
65,000.00 65,000.00
242,000.00

300,000.00
242,000.00
542,000.00
24,000.00 60,000.00
482,000.00

285,000.00
125,000.00
5,000.00 173,000.00
2,000.00
6,000.00 899,000.00
300,000.00 -

-
1,482,000.00

200,000.00
300,000.00
500,000.00
482,000.00
422,000.00 1,482,000.00