Business, 19.03.2021 16:10 emmalou14

On January 1, 2016, Wilhelm Corporation acquired 90 percent of Kaiser Company's voting stock at book value. The fair value of the noncontrolling interest was equal to 10% of the book value of Kaiser at that date. Wilhelm uses the equit method (with consolidation) in accountig for its ownership of Kaiser. On December 31, 2016, the trial balances of the two companies are as follows: (please note that the retained earnings accounts of both companies have not yet been adjusted for 2016 activity and are stated as they were on January 1, 2016) Wilhelm Corporation Kaiser Company
Item Debit Credit Debit Credit
Current Assets $200,000 $140,000
Depreciable Assets 350,000 250,000
Investment in Kaiser Company Stock
162,000
Depreciation expense 27,000 10,000
Other expenses 95,000 60,000
Dividends declared 20,000 10,000
Accumulated Depreciation $118,000 $80,000
Current Liabilities 100,000 80,000
Long-Term Debt 100,000 50,000
Common Stock 100,000 50,000
Retained Earnings 150,000 100,000
Sales 250,000 110,000
Income from Subsidiary 36,000
$854,000 $854,000 $470,000 $470,000
A. What amount would be reported as total assets in the consolidated balance sheet at December 31, 2016?
B. What amount would be reported as total liabilities in the consolidated balance sheet at December 31, 2016?
C. What amount would be reported as retained earnings in the consolidated balance sheet prepared at December 31, 2016?
D. Based on the preceding information, what amount would be reported as noncontrolling interest in the consolidated balance sheet at December 31, 2016?
E. Based on the preceding information, what amount would be reported as total stockholder's equit in the consolidated balance sheet at December 31, 2016?

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