Requirement 3 . Suppose Houston Oil Company bought only 80 % of Hot Top Development Company for
$ 380,000 . Therefore , Houston Oil ' s revenue and other income for 20X1 is $ 6,706,000 , not $ 6,800,000 .
Prepare a consolidated income statement and a consolidated balance sheet . Use the balance-sheet-equation format for the latter .
E17-35 ( similar to )
The Dupont Molding Company ' s fiscal year ends on December 31 . The company had the following items on its 20X1 income statement and balance sheet ( in millions ):