Problem 6-3 Problem 6-7

P6-4
    NAME HERE
    P 6-3    PAR CORPORATION AND SUBSIDIARY
    CONSOLIDATION WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2011
        |        |        Adjustments & Eliminations        |    Consolidated    |    Non Controlling interest
    (in thousands)    |    Par    |    Sag    Debits    Credits    |    Statements    |
    INCOME STATEMENT    |        |                |        |
    Sales    |    700    |    500            |    1,150    |    50
    Income from Sag    |    70    |                |    70    |    0
    Gain on land    |        |    10        10    |        |    0
    Gain on equipment    |    20    |            20    |        |    0
    Cost of sales    |    (300)    |    (300)            |    (570)    |    -30
    Depreciation expense    |    (90)    |    (35)            |    (122)    |    -3.5
    Other expenses    |    (200)    |    (65)            |    (259)    |    -6.5
    Noncontrolling int. share    |        |                |    0    |
    Net income    |    200    |    110    0        |    270    |    10
    RETAINED EARNINGS    |        |                |    0    |
    Ret earnings-Par    |    600    |        20        |    580    |
    Ret earnings-Sag    |        |    200    10            180    |    20
    Net income    |    200    |    110            |    299    |    11
    Dividends    |    (100)    |    (50)            |    (145)    |    -5
        |        |                |    0    |
    Ret earnings-ending    |    700    |    260        0    |    934    |    26
    BALANCE SHEET    |        |                |        |
    Cash    |    35    |    30    630        |    692    |    3
    Accts receivable-net    |    90    |    110        10        179    |    11
    Inventories    |    100    |    80        5    |    168    |    7.5
    Other current...