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Chapter 8 Test Bank

CONSOLIDATIONS - CHANGES IN OWNERSHIP INTERESTS

Multple Ch!"e #uest!ns

LO$

$% Wh"h !& the &!ll!'n( s "!rre"t) The *re"t sale !&

a**t!nal shares t! the parent "!+pan, &r!+ a sus*ar,

a% *e"reases the parent.s nterest an* *e"reases the

n!n"!ntr!lln( shareh!l*ers. nterest%

% *e"reases the parent.s nterest an* n"reases the


"% n"reases the parent.s nterest an* n"reases the


*% n"reases the parent.s nterest an* *e"reases the


/se the &!ll!'n( n&!r+at!n n ans'ern( 0uest!ns 1 an* 2%

On De"e+er 2$3 14453 Gant-Petrel C!rp!rat!n.s Investment in

Penguin Corporationa""!unt ha* a alan"e !& 67173444% The alan"e

"!nsste* !& 84 !& Pen(un.s 65443444 st!"kh!l*ers. e0ut, !n that

*ate an* 6973444 !& (!!*'ll% On :anuar, 13 144;3 Pen(un n"rease*

ts !utstan*n( "!++!n st!"k &r!+ $73444 t! $83444 shares%

LO$

1% Assu+e that Pen(un s!l* the a**t!nal 23444 shares *re"tl,

t! Gant-Petrel &!r 6$743444 !n :anuar, 13 144;% Gant-Petrel.s

per"enta(e !'nershp n Pen(un ++e*atel, a&ter the pur"hase

!& the a**t!nal st!"k s

a% 55-1

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LO$

2% Assu+e that Pen(un s!l* the a**t!nal 23444 shares t! !uts*e

nterests &!r 6$743444 !n :anuar, 13 144;% Gant-Petrel.s

per"enta(e !'nershp ++e*atel, a&ter the sale !& st!"k '!ul*

e

a% 55-1>3444@ n! *?*en*s

'ere *e"lare*% On Mar"h $3 14453 Brstler* re*u"e* ts nterest n

/n*errush , selln( a 14 nterest3 !ne-&!urth !& ts n?est+ent3&!r 6893444%

LO$

9% I& Brstler* uses a e(nnn(-!&-the-,ear sale assu+pt!n3

ts (an !n sale an* n"!+e &r!+ /n*errush &!r 1445 'll e

Gan !n Sale In"!+e &r!+ /n*errush

a% 673;44 67>3944%

% 673;44 6513;44%

"% 6>3444 67>3944%

*% 6>3444 6513;44%

LO$

7% I& Brstler* uses the a"tual-sale-*ate sales assu+pt!n3

ts (an !n the sale an* n"!+e &r!+ /n*errush &!r 1445 'll

e

Gan !n Sale In"!+e &r!+ /n*errush

a% 61$3254 67>3944

% 61$3254 6513;44

"% 6153594 67>3944

*% 6153594 6513;44

=144> Pears!n E*u"at!n3 In"% pulshn( as Prent"e Hall

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LO$

8% What s Butt!n-0ual.s per"enta(e !'nershp n Sa?annah a&ter

Sa?annah ssues ts st!"k t! Butt!n-0ual)

a% ;5%21%

% 84%92%"% 81%7;%

*% 82%92%

LO$

>% Assu+n( that Sa?annah has n! &e* assets3 'hat s the a+!unt

!& (!!*'ll ass!"ate* 'th the ssuan"e !& shares t! Butt!n-

0ual)

a% 6283$;5%

% 6943121%

"% 69$3241%*% 69$3;21%

/se the &!ll!'n( n&!r+at!n &!r 0uest!ns $43 an* $$%

Great r(ater* C!rp!rat!n a"0ure* a >4 nterest n Slpstrea+

C!rp!rat!n at ts 68$43444 !!k ?alue !n De"e+er 2$3 1447% A

su++ar, !& the st!"kh!l*ers. e0ut, &!r Slpstrea+ at the en* !& 1447

an* 1445 s as &!ll!'s

$1

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LO$

$$% I& Slpstrea+ s!l* the a**t!nal shares *re"tl, t! Great

r(ater*3 Great r(ater*.s Investment in Slipstream

a""!unt a&ter the sale '!ul* e

a% 6$32743444%

% 6$32>73444%"% 6$39173444%

*% 6$37443444%

LO1

$1% Wh"h !& the &!ll!'n( s "!rre"t a!ut the treat+ent !&

prea"0ust!n earnn(s !n "!ns!l*ate* &nan"al state+ents)

I% E"lu*e the sus*ar, sales an* epenses pr!r t!

a"0ust!n &r!+ "!ns!l*ate* sales an* epenses%

II% In"lu*e the sus*ar, sales an* epenses pr!r t!

a"0ust!n an* *e*u"t prea"0ust!n n"!+e as a separatete+%

a% I !nl,%

% II !nl,%

"% I !r II%

*% Nether I n!r II%

LO$

$2% I& a parent "!+pan, an* !uts*e n?est!rs pur"hase shares !& a

sus*ar, n relat!n t! estn( st!"k !'nershp Fratal,

a% there 'll e n! a*ust+ent t! a**t!nal pa*-n "aptal

re(ar*less 'hether the st!"k s s!l* a!?e !r el!' !!k

?alue%

% the transa"t!n 'll re0ure+ent an n?est+ent a""!unt

a*ust+ent%

"% the transa"t!n 'll re0ure the el+nat!n !& a (an &

t 'as "!n*u"te* at e"!n!+" ar+s len(th%

*% the transa"t!n 'll re0ure the el+nat!n !& a l!ss &

t 'as "!n*u"te* at e"!n!+" ar+s len(th%


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LO1

$9% Her!n C!rp!rat!n a"0ure* 94 !& WatersE*(e In"%.s "!++!n

st!"k &!r 69443444 !!k ?alue !n :anuar, $3 1445 'hen

WatersE*(e e0ut, "!nsste* !& 67443444 "aptal st!"k an*

67443444 retane* earnn(s% On Septe+er $3 1445 Her!n !u(ht

an a**t!nal 24 nterest n WatersE*(e &!r 61$43444% In !th

"ases3 Waterse*(e !!k ?alue e0uale* the &ar ?alue%

WatersE*(e ha* n"!+e !& 6$143444 earne* e?enl, thr!u(h 1445

an* pa* *?*en*s 0uarterl, !& 6173444%

The "!ns!l*ate* n"!+e state+ent !& Her!n C!rp!rat!n an*

Sus*ar, &!r the ,ear 1445 sh!ul* sh!' pre-a"0ust!n n"!+e

!&

a% 6 73222%

% 6 83444%

"% 6213444%

*% 6753444%

/se the &!ll!'n( n&!r+at!n t! ans'er 0uest!ns $7 thr!u(h $8%

B!'err* C!rp!rat!n pur"hase* a ;4 nterest n Sta(e C!rp!rat!n

!n :une $3 1445 at a pur"hase pr"e !& 62>43944% On ths *ate3

Sta(e.s !!k ?alues 'ere e0ual t! ts &ar ?alues e"ept &!r an

unre"!r*e* "!p,r(ht3 an* ts st!"kh!l*ers. e0ut, "!nsste* !&

61>43444 !& C!++!n St!"k an* 61$43444 !& Retane* Earnn(s% All "!st-

!!k *&&erentals 'ere attrute* t! the "!p,r(ht3 'h"h ha* an

est+ate* e"!n!+" l&e !& ten ,ears%

Durn( 14453 Sta(e earne* 6$143444 !& net n"!+e earne* un&!r+l,

thr!u(h!ut the ,ear an* pa* 653444 !& *?*en*s !n Mar"h $ an*

an!ther 653444 !n Septe+er $%

LO1

$7% Mn!rt, nterest n"!+e &!r 1445 s

a% 6253444%

% 6213944%

"% 65$3144%

*% 6743444%


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LO1

$5% Prea"0ust!n n"!+e &!r 1445 s

a% 6743444%

% 6273444%

"% 6993444%

*% 6253444%

LO1

$;% The ?alue !& the "!p,r(ht that s n"lu*e* n B!'err*.

Investment in Stage a""!unt !n :une $3 1445 s

a% 6 13544%

% 6 73944%

"% 6 >3544%

*% 6$43944%

LO1

$8% The a+!rtJat!n epense re"!r*e* &!r the "!p,r(ht n 1445 s

a% 62$7%

% 6754%

"% 68$7%

*% 6>54%


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LO$

Eer"se $

At De"e+er 2$3 14493 the st!"kh!l*ers. e0ut, !& G!sha'k C!rp!rat!n

an* ts 84-!'ne* sus*ar,3 Treet!p C!rp!rat!n3 are as &!ll!'s

G!sha'k Treet!pC!++!n st!"k3 6$4 par ?alue 6 143444 6 $13444

Retane* earnn(s 83444 53444

T!tals 6 183444 6 $83444

G!sha'k.s n?est+ent n Treet!p.s a""!unt alan"e s e0ual t! the

Treet!p !!k ?alue% Treet!p C!rp!rat!n ssue* 117 a**t!nal shares

!& "!++!n st!"k *re"tl, t! G!sha'k !n :anuar, $3 1447 at 6$8 per

share%

Re0ure* C!+pute the &!ll!'n(

$% C!+pute the alan"e n G!sha'k.s Investment in Treetop a""!unt

!n :anuar, $3 1447 a&ter the ne' n?est+ent s re"!r*e*%

1% Deter+ne the (!!*'ll F& an, &r!+ G!sha'k.s ne' n?est+ent n

the 117 Treet!p shares%

LO$

Eer"se 1

At the e(nnn( !& 14453 Starln( C!rp!rat!n hel* an 84 nterest

n T'( C!rp!rat!n% The n?est+ent a""!unt alan"e 'as 6>4434443"!nsstn( !& 84 !& T'(.s 6$34>73444 !& net assets an* 6193444 !&

(!!*'ll%

Durn( 14453 T'( un&!r+l, earne* 61293444 an* pa* *?*en*s !&

62;3744 !n Aprl $ an* a(an !n O"t!er $% On Au(ust $3 14453

Starln( s!l* 24 !& ts n?est+ent n T'( &!r 615137443 there,

re*u"n( ts nterest n T'( t! 75%

Re0ure* C!+pute the &!ll!'n( usn( the a"tual sales *ate

assu+pt!n

$% Gan !r l!ss !n sale%

1% In"!+e &r!+ T'( &!r 1445%

2% N!n"!ntr!lln( nterest &!r 1445%

LO$


8->

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Eer"se 2

At the e(nnn( !& 14453 l,"at"her C!rp!rat!n hel* a 54 nterest

n L"hen C!rp!rat!n% The n?est+ent a""!unt alan"e 'as 613$4434443

"!nsstn( !& 54 !& L"hen.s 6231153555 !& net assets an* 6$593444

!& (!!*'ll%

Durn( 14453 L"hen earne* 62443444 an* pa* *?*en*s !& 6$$43444 !n

N!?e+er $% On O"t!er $3 14453 l,"at"her s!l* $4 !& ts n?est+ent

n L"hen &!r 625934443 there, re*u"n( ts nterest n L"hen t!

79%

Re0ure* C!+pute the &!ll!'n( usn( the a"tual sales *ate

assu+pt!n

$% Gan !r l!ss !n sale%

1% In"!+e &r!+ L"hen &!r 1445%

2% N!n"!ntr!lln( nterest epense &!r 1445%

LO$

Eer"se 9

At De"e+er 2$3 1447 ,ear-en*3 Lap'n( C!rp!rat!n.s n?est+ent n

Open(r!un* In"% 'as 1443444 "!nsstn( !& 84 !& Open(r!un*.s

61743444 st!"kh!l*ers. e0ut, !n that *ate% On Aprl $3 14453

Lap'n( s!l* 14 nterest F!ne-&!urth !& ts h!l*n(s n Open(r!un*

&!r 6573444% Durn( 14453 Open(r!un* ha* net n"!+e !& 6;73444 an*

!n :ul, $3 14453 Open(r!un* pa* *?*en*s !& 6943444%

Re0ure*

$% Re"!r* the !urnal entres e&!re ,ear-en* 1445 assu+n( the

e0ut, +eth!*%


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LO$

Eer"se 7

On Aprl $3 14453 G!ul*an C!rp!rat!n pa* 6$143444 &!r a 17

nterest n Ter+te M!un* C!rp!rat!n% On :ul, $3 14453 G!ul*an

a"0ure* an a**t!nal 97 Fase* !n the :anuar, $3 1445 nu+er !&

Ter+te M!un* shares !utstan*n( &!r 61253944% Ter+te M!un*.sst!"kh!l*ers. e0ut, !n :anuar, $3 1445 "!nsste* !& 62443444 !& 6$4

par ?alue C!++!n St!"k an* 6$443444 !& Retane* Earnn(s% Ter+te

M!un*.s net n"!+e &!r 1445 'as 6$993444 earne* un&!r+l, thr!u(h!ut

the ,ear%

Re0ure* Cal"ulate ea"h !& the &!ll!'n( a+!unts

$% G!ul*an.s n"!+e &r!+ Ter+te M!un* &!r 1445%

1% The a+!unt !& +n!rt, nterest n"!+e that 'll appear !n the

"!ns!l*ate* n"!+e state+ent !& G!ul*an an* Sus*ar, &!r

1445%

LO1

Eer"se 5

Catr* C!rp!rat!n pa* 61943444 !n Aprl $3 1445 &!r all !& the

"!++!n st!"k !& Bu( C!rp!rat!n n a usness a"0ust!n% Bu(.s

st!"kh!l*ers. e0ut, at Aprl $ "!nsste* !& the 6$>73444 :anuar, $3

1445 st!"kh!l*ers. e0ut, !& Bu( plus &rst 0uarter n"!+e less

*?*en*s% D?*en*s are pa* 0uarterl,% An, e"ess "!st !?er !!k

?alue a"0ure* s (!!*'ll 'th a $4-,ear a+!rtJat!n per!*%

A**t!nal n&!r+at!n

$% Catr* s!l* e0up+ent 'th a 7-,ear re+ann( use&ul l&e t!

Bu( !n :ul, $3 1445 &!r a (an !& 6$43444%

1% Bu(.s a""!unts pa,ale alan"e at De"e+er 2$ n"lu*es 673444

*ue t! Catr* &r!+ the sale !& e0up+ent%

2% Catr* a""!unts &!r ts n?est+ent n Bu( usn( the e0ut,

+eth!* as a !ne-lne "!ns!l*at!n%

Re0ure*

C!+plete the '!rkn( papers t! "!ns!l*ate the &nan"al state+ents!& Catr* an* Bu( C!rp!rat!ns &!r the ,ear 1445%


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LO1

Eer"se ;

S'all!' C!rp!rat!n pa* 6513444 t! a"0ure $44 !& Gull,

C!rp!rat!n.s !utstan*n( ?!tn( "!++!n st!"k at !!k ?alue !n Ma, $3

1445% The st!"kh!l*ers. e0ut, !& Gull, !n :anuar, $3 1445 "!nsste*

!& 6943444 Captal St!"k an* 6143444 Retane* Earnn(s% Gull,.s t!tal*?*en*s &!r 1445 'ere 6534443 pa* e0uall, !n Aprl $ an* O"t!er

$% Gull,.s net n"!+e 'as earne* un&!r+l, thr!u(h!ut 1445%

Durn( 14453 S'all!' +a*e sales !& 6$43444 t! Gull, at a (r!ss pr!&t

!& 623444% One-hal& !& ths +er"han*se 'as n?ent!re* , Gull, at

,ear-en*3 an* !ne-hal& !& the 1445 nter"!+pan, sales 'ere unpa* at

,ear-en* 1445%

S'all!' s!l* e0up+ent 'th a ten-,ear re+ann( use&ul l&e t! Gull,

at a 613444 (an !n De"e+er 2$3 1445% The stra(ht-lne *epre"at!n

+eth!* s use*%

nan"al state+ents !& S'all!' an* Gull, C!rp!rat!ns &!r 1445

appear n the &rst t'! "!lu+ns !& the partall, "!+plete*

"!ns!l*at!n '!rkn( papers%

Re0ure*

C!+plete the '!rkn( papers &!r S'all!' C!rp!rat!n an* Sus*ar,

&!r the ,ear 1445%


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S'all!' C!rp!rat!n an* Sus*ar,

C!ns!l*at!n W!rkn( Papers

&!r the ,ear en*e* De"e+er 2$3 1445

S'all!' Gull,

El+nat!ns N!n-

"!ntl

C!ns!l-

*ate*Det Cre*t

INCOME STATEMENTNet Sales 6 843444 6943444

In"!+e &r!+ Gull, 53744

Gan !n sale !&

E0up+ent 13444

C!st !& sales F 943444 F $73444

Depre"at!n F $$3444 F 93444

Other epenses F $13744 F 53444

Prea"0ust!n

In"!+e

Net n"!+e 173444 $73444

Retane*Earnn(s 543444 143444

A** Net n"!+e 173444 $73444

D?*en*s F $43444 F 53444

Retane*

Earnn(s $13444

BALANCE SHEET

Re"e?ales-net $>3444 $53444

In?ent!res $43444 83444

Other assets $43744 $93444

Lan* 73444 73444

Bul*n(s-net 143444 $73444

In?est+ent nGull, 573744

E0up+ent-net 943444 113444

TOTAL ASSETS 6 $;43444 6843444

LIAB K E#/IT

A""!unts pa,ale $53444 $43444

Other *et $>3444 $3444

C!++!n st!"k 543444 943444

Retane*

Earnn(s

;73444 1>3444

N!n"!ntr!lln(Interest

TOTAL LIAB% K

E#/IT

6

$;43444 6843444


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S'&t C!rp!rat!n an* Sus*ar,



S'&t

Weather

r!nt

El+nat!ns N!n-

"ntl

C!ns!l-

*ate*Det Cre*t

INCOME STATEMENTNet Sales 6

543444

6293444

In"!+e &r!+

Weather r!nt

93844

Gan !n sale !&

E0up+ent $3744

C!st !& sales F 1;3444 F $53444

Depre"at!n F 73444 F 23444

Other epenses F $13$44 F 73444

N!n"ntl% epense

Net n"!+e 113144 $43444

Retane*Earnn(s $43$44 $;3444

A** Net n"!+e 113144 $43444

D?*en*s F $13444 F 93444

Retane*

Earnn(s $1 Pears!n E*u"at!n3 In"% pulshn( as Prent"e Hall

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S!lut!ns

Multple Ch!"e #uest!ns

$ *

1 " F$73444 shares>3444 $

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$4 Slpstrea+.s st!"kh!l*ers. e0ut,

pr!r t! the st!"k ssuan"e 6 $34743444

Plus Captal re"e?e* &r!+ ne'

st!"k ssue* 9743444

Ne' st!"kh!l*ers. e0ut, 6 $37443444

Great r(ater*.s !'nershpper"enta(e

;;%$9

Great r(ater*.s a*uste*

n?est+ent n Slpstrea+ 6 $3$7;3$44

$$ In?est+ent alan"e at $1973444

A**t!nal n?est+ent F$43444

Shares 697 9743444

In?est+ent a""!unt alan"e 6 $32>73444

$1

$2 a

$9 " 6$143444 net n"!+e 13544

$8 r!+ #uest!n $;

F6>3544 Pears!n E*u"at!n3 In"% pulshn( as Prent"e Hall

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$>

14

Eer"se $

Re0ure+ent $

C!st !& n?est+ent F6$83444 84

6 $93944Plus Pur"hase !& 117 Treet!p

shares at 6$8 !n :anuar, $3 1447 93474

In?est+ent a""!unt alan"e 6 $;3974

Re0ure+ent 1

Treet!p.s st!"kh!l*ers. e0ut, at

:anuar, $3 1447 6 $83444

Plus A**t!nal "aptal &r!+ the

shares ssue* 93474

T!tal st!"kh!l*ers. e0ut, a&terssuan"e !& the ne' shares 6 113474

G!sha'k.s per"enta(e

F>54 117

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Eer"se 1

Prel+nar, "!+putat!ns

In?est+ent alan"e3 :anuar, $ 6 >443444

In"!+e &r!+ T'( F61293444 ;3144

Less Aprl $ *?*en*s F62;3744 84 F 243444

B!!k ?alue at :ul, 2$3 1445 6 >;>3144

Re0ure+ent $

Pr!"ee*s &r!+ sale 6 1513744

B!!k ?alue !& nterest s!l*

F6>;>3144 24 1>23;54

L!ss !n sale 6 F 2$3154

Re0ure+ent 1

In"!+e &r!+ T'( &r!+ :an $

thr!u(h :ul, 2$ F&r!+ a!?e

6$4>3144 6 $4>3144

In"!+e &r!+ Au(ust $ De"e+er 2$

F61293444 7 Pears!n E*u"at!n3 In"% pulshn( as Prent"e Hall

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Eer"se 2

Prel+nar, "!+putat!ns

In?est+ent alan"e3 :anuar, $ 6 13$443444

In"!+e &r!+ L"hen F62443444

> Pears!n E*u"at!n3 In"% pulshn( as Prent"e Hall

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Eer"se 9

Re0ure+ent Det Cre*t

Aprl $

In?est+ent n Open(r!un* $83;74

In"!+e &r!+ Open(r!un* $83;74

Cash 573444

In?est+ent n Open(r!un* 923;74

Gan &r!+ sale !& n?est+ent n

Open(r!un*

1$3174

:ul, $

Cash 193444

In?est+ent n Open(r!un* 193444

De"e+er 2$

In?est+ent n Open(r!un* 223;74

In"!+e &r!+ Open(r!un* 223;74

Selln( pr"e 6 573444

B!!k ?alue !& nterest s!l*

Be(nnn( alan"e 6 1443444

In"!+e &!r 2 +!nths

6;73444 $

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Eer"se 5

Catr* C!rp!rat!n an* Sus*ar,



Catr* Bu(

El+nat!ns Mn

Int

C!ns!l-

*ate*Det Cre*tINCOME STATEMENT

Net Sales 6 7443444 6$;43444 65;43444

In"!+e &r!+

Bu( 1$3444 " 6 1$3444

Gan !n sale !&

e0up+ent $43444 a $43444

C!st !& sales F1243444 F >43444 F2143444

Depre"at!n F$$23444 F 243444 6 $3444 F$913444

Other epenses F 243444 F $43444 F 943444

Prea"0ust!n

n"!+e * $43444 F $43444

Net n"!+e $783444 943444 $783444

Retane*

Earnn(s ;73444 743444 * 743444 ;73444

A** Net n"!+e $783444 943444 $783444

D?*en*s

Prea"0ust!n

*?*en*s

F 243444 F 143444 "

*

$73444

73444

F 243444

Retane*

Earnn(s $1

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Eer"se ;

S'all!' C!rp!rat!n an* Sus*ar,



S'all!' Gull,

El+nat!ns Mn

Int

C!ns!l-

*ate*Det Cre*tINCOME STATEMENT

Net Sales 6 843444 6943444 a 6 $43444 6$$43444

In"!+e &r!+

Gull,

53744 * 53744

Gan !n sale !&

e0up+ent 13444 " 13444

C!st !& sales F 943444 F $73444 $3744 a 6 $43444 F 953744

Depre"at!n F $$3444 F 93444 F $73444

Other epenses F $13744 F 53444 F $83744

Prea"0ust!n

n"!+e e 73444 F 73444

Net n"!+e 173444 $73444 173444

Retane*

Earnn(s 543444 143444 e 143444 543444

A** Net n"!+e 173444 $73444 173444

D?*en*s F $43444 F 53444 *

e

23444

23444 F $43444

Retane*

Earnn(s $13444 6;73444

BALANCE SHEET

Re"e?ales-net $>3444 $53444 & 73444 243444

In?ent!res $43444 83444 $3744 $53744

Other assets $43744 $93444 193744Lan* 73444 73444 $43444

Bul*n(s-net 143444 $73444 273444

In?est+ent n

Gull, 573744

*

e

23744

513444

E0up+ent-net 943444 113444 " 13444 543444

TOTAL ASSETS 6 $;43444 6843444 6$;53444

E#/ITIES

A""!unts pa,ale $53444 $43444 & 73444 1$3444

Other *et $>3444 $3444 143444

C!++!n st!"k 543444 943444 e 943444 543444

Retane*

Earnn(s

;73444 1>3444 ;73444

Mn!rt,

nterest

TOTAL E#/ITIES 6 $;43444 6843444 6$;53444


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Eer"se 8

S'&t C!rp!rat!n an* Sus*ar,



S'&t Weather

r!nt

El+nat!ns N!n-

"ntl%

C!ns!l-

*ate*Det Cre*t

INCOME STATEMENT

Net Sales 6

543444

6293444 a 6 $13444 6813444

In"!+e &r!+

Weather r!nt

93844 e 93844

Gan !n sale !&

E0up+ent $3744 " $3744

C!st !& sales F 1;3444 F $53444 13444 a 6 $13444 F 223444

Depre"at!n F 73444 F 23444 * 244 F ;3;44

Other epenses F $13$44 F 73444 F $;3$44

N!n"ntl% epense 6 13444F 13444

Net n"!+e 113144 $43444 113144

Retane*

Earnn(s $43$44 $;3444 & $;3444 $43$44

A** Net n"!+e 113144 $43444 113144

D?*en*s F $13444 F 93444 e 23144F 844 F $13444

Retane*

Earnn(s $13244

Net Re"e?ales ;3444 73444 h $3444 $$3444

D?*en*s Re" 844 ( 844

In?ent!res ;3444 73444 13444 $43444

Plant assets-net 113444 923444 * 244 " $3744 523844In?est+ent n

Weather r!nt 9$3144

e

&

$3544

2>3544

G!!*'ll & 13444 13444

TOTAL ASSETS 6 843244 6543444 6>53$44

LIAB K E#/IT

A""!unts pa,ale $;3444 53444 h $3444 113444

D?*en*s

Pa,ale 23444 $3444 ( 844 23144

C!++!n st!"k 943444 243444 & 243444 943444

Retane*

Earnn(s 143244

123444 143244

N!n"ntl Interest

:anuar, $ & >3944 >3944

N!n"ntl Interest

De"e+er 2$ $43544 $43544

TOTAL LIAB% K

E#/IT

6

843244 6543444

6>53$44


8-18

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Eer"se >

C!st !& n?est+ent 6 ;443444

B!!k ?alue a"0ure*

St!"kh!l*ers. e0ut,3 :an $ 6 8443444

In"!+e :an $ Au( 2$

F6;83444

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Eer"se $4

Re0ure+ent $

C!st !& n?est+ent F69743444

54 6 1;43444Share !& Trunk.s n"!+e &!r 1447

F6943444 54 193444

Investment in Trunkalan"e at

De"e+er 2$3 1447 1>93444

Plus Pur"hase !& $43444 Trunk

shares at 6$1 !n :anuar, $3 1445 $143444

In?est+ent a""!unt alan"e 6 9$93444

Re0ure+ent 1

Trunk.s st!"kh!l*ers. e0ut, at

:anuar, $3 1445 F69743444

6943444 !& 1447 net n"!+e 6 9>43444

Plus A**t!nal "aptal &r!+ the

shares ssue* $143444

T!tal st!"kh!l*ers. e0ut, a&ter

ssuan"e !& the ne' shares 6 5$43444

Ra?en.s per"enta(e

F193444 $43444

ch08 beams10e tb

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