Company Pea owns 90 percent of Company Essone which in turn owns 80 percent of Company Esstwo. Company Esstwo owns 100 percent of Company Essthree. Consolidated financial statements should be prepared to report the financial status and results of operations for:

On 1/1/23 Big Co acquired 80% of Little Co common stock for $400,000.  The fair value of the non-controlling interest was $100,000 on that date.  Little’s book value on that date was $420,000.  They had common stock of $100,000 and Retained earnings of $320,000.  All of Little’s assets and liabilities had fair values equal to book value, except: 1. Land, undervalued by $20,000 2. Inventory (FIFO basis) undervalued by $10,000 3. Equipment, 10 year life, undervalued by $40,000 Any remaining differential is attributed to goodwill. During 2023, Little reported earnings of $50,000 and paid dividends of $10,000.   Little had accumulated depreciation on the date of acquisition of $100,000.   Required: 1. Prepare all necessary equity method entries for Big to account for their investment in Little for 2023; 2. Prepare all necessary consolidation entries for 2023. BE ABSOLUTELY SURE THAT YOU KEEP THE EQUITY METHOD ENTRIES AND CONSOLIDATION ENTRIES SEPARATED INTO DIFFERENT GROUPS, AND APPROPRIATELY LABELED!!!!! 3. Complete the attached worksheet.  It would probably be MUCH MUCH EASIER to copy/paste the worksheet to your answer box. Big Little debit credit Consolidated Sales 450,000 400,000 Cost of goods sold 300,000 260,000 Depreciation expense 60,000 40,000 Other expenses 40,000 50,000 Investment income 28,800 Consolidated net income 78,800 50,000 NCI interest in NI of Small Income to controlling interest Beginning R/E 450,000 320,000 Add: Income Less: Dividends 30,000 10,000 Ending R/E Cash and receivables 40,000 25,000 Inventory 50,000 40,000 Other current assets 120,000 150,000 Investment in Little 420,800 Property, plant, and equipment 357,600 515,000 Accumulated depreciation 200,000 140,000 Goodwill Current liabilities 47,600 70,000 Non-current liabilities 150,000 60,000 Common Stock 92,000 100,000 Retained earnings NCI in NA of Little

Rivendell Corporation and Foster Company merged as of January 1, 20X2. To effect the merger, Rivendell paid finder’s fees of $40,000, legal fees of $13,000, audit fees related to the stock issuance of $10,000, stock registration fees of $5,000, and stock listing application fees of $4,000.   Based on the preceding information, what amount relating to the business combination would be expensed under the acquisition method?  

In 1990, the GDP of Canada was $680 billion as measured in Canadian dollars, and the exchange rate was that $1 Canadian was worth 85 U.S. cents. In 2000, the GDP of Canada was $1000 billion as measured in Canadian dollars, and the exchange rate was that $1 Canadian was worth 69 U.S. cents. By what percentage did the GDP of Canada increase from 1990 to 2000 in Canadian dollars? 

Final goods or services used to compute GDP refer to: 

Consumption is the purchase of goods and services by: 

Refer to the graph shown below.  At point A:

The primary purpose that mythology held to various cultures was

A sonnet is

After publishing his groundbreaking collection of poetry in 1857 called Les Fleurs du Mal (The Flowers of Evil), the French poet Charles Baudelaire was