Homework 4 Pavement Sigur Dr. Cr. Sales 525,000 175,000 110,000 Cost of goods sold (225,000) (110,000)90,000 100,000 Depreciation & Amortization expense(45,000) (25,000) 5,000 7,000 Interest expense (67,500) (8,000) 1,000 Other expenses(75,000) (15,000)21,000 Equity Earnings in Sigur84,000 - 84,000 Equity earnings in Ros30,000 - Consolidated Net Income226,500 17,000 Noncontrolling Share of Net Income- - 21,000 Controlling Share of Net Income226,500 17,000 Retained Earnings Statement Beginning Retained Earnings 312,000 375,000 375,000 Net Income 226,500 17,000 Dividends Declared (36,000)(15,000)15,000 Ending Retained Earnings 502,500 377,000 Balance Sheet Cash and Short-term receivables84,000 150,000 25,000 Inventories 350,000 320,000 90,000 100,000 Buildings and equipment, net310,000 619,000 14,000 Land200,000 388,000 20,000 Patents144,000 50,000 5,000 Investment in Ross375,000 Investment in Sigur1,488,000 1,100,000 316,000 72,000 Goodwill405,000 Total Assets2,807,000 1,621,000 Accounts payable 273,500 144,000 25,000 Long-term notes payable 1,225,000 100,000 10,000 1,000 Common stock806,000 1,000,000 1,000,000 Retained earnings502,500 377,000 Noncontrolling Interest- - 275,000 79,000
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