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):