Sun is a 90 percent-owned subsidiary of Pam Corporation, acquired at book value several years ago. Comparative separate-company income statements for the affiliates for 2016 are as follows: Pam Corporation Sun Corporation $750,000 54,000 15,000 819,000 500,000 150,000 650,000 $169,000 Sales $350,000 Income from Sun Gain on building Income credits 350,000 Cost of sales Operating expenses Income debits 200,000 75,000 275,000 $ 75,000 Net income On January 5, 2016, Pam sold a building with a 10-year remaining useful life to Sun at a gain of $15,000. Sun paid dividends of $50,000 during 2016. REQUIRED 1. Reconstruct the journal entries made by Pam during 2016 to account for its investment in Sun. Explanations of the journal entries are required. 2. Prepare a consolidated income statement for Pam Corporation and Subsidiary for 2016.

1.) Abracada owns 90% interest of Deli Co. The following information are provided below:   Deli Co Abracada Co Sales 2,000,000 5,400,000 Cost of goods sold (800,000) (2,700,000) Gross profit 1,200,000 2,700,000 Operating expenses (800,000) (500,000) Dividend Income   20,000 Net Income 400,000 2,240,000 Abracada Co. sold goods to Deli Co. for 60,000, 20% of these goods were sold for the year. Abracada also sold goods to Abracada Co. for 100,000, 20% of these goods were unsold at the end of the year. The ending inventory for Abracada Co is 240,000 and 100,000 for Deli Co. Compute for the non-controlling interest in Net Income.

10 The following information has been extracted from the consolidated financial statements of P for the year ended 31 December 2017 The group has neither purchased nor disposed of any investment during this period. Group statement of profit or loss $ 000 Group operating profit 1,468 Share of associate's profit after tax 136 1,604 Tax on profit on ordinary activities: Income taxes: group (648) Profit on ordinary activities after tax 956 Group statement of financial position at 31 December 2017 2016 $00 $ 000 Investments in associates Share of net assets 932 912 Required What figure should appear in the group statement of cash flows for the year to 31 December 2017 for the associate? (a) (b) Under which heading would you expect this figure to appear in the group statement of cash flows?

fill in germano company and gable industries