Parent Subsidiary Elimination Consolidated

DR CR
STATEMENT OF CI
Sales 200,000.00 100,000.00 300,000.00
Dividend income 8,000.00 4,000.00
Less:
Expenses 160,000.00 85,000.00 6,250.00 251,250.00
Consolidated income 48,000.00 15,000.00 48,750.00
NCI in CI of the subsidiary 1,750.00 1,750.00
CI, CArried forward 48,000.00 15,000.00 47,000.00

STATEMENT OF R.E
Retained earnings, Beg..
Pedro 244,000.00 244,000.00
Sulu 170,000.00 150,000.00 13,750.00
6,250.00
CI, From above
Pedro 48,000.00 47,000.00
Sulu 15,000.00
Less: Dividend declared
Pedro -
Sulu 10,000.00 5,000.00
RE, End., carried forward 292,000.00 175,000.00 291,000.00