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Padre, Inc., buys 80 percent of the outstanding common stock of Sierra Corporation on January 1, 2015, for $790,560 cash. AtRetained earnings, 1/1/15 Net income (above) Dividends declared $(1,447,500) (545,000) 260,000 $ (502,000) (145,000) 65,000 RAt year-end, there were no intra-entity receivables or payables. Using the acquisition method, prepare the worksheet to consoConsolidated net income (2,175,750) (2,175,750) NCI in consolidated net income Controlling interest in CNI Retained earnings

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O 607000 Land 3 Movp6lovo 285000 Building and Fractul met goluppo 2662.00 3600 38000 1136.000 Copyright 97650 11600D 5JODD 20PADRE INC , And GCERRA Corporcetion Congolidated worksheet For the year Ending December 31,2015 o Non controlling consolidate

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