Question

Texts: Bolero Company holds 80% of the common stock of Rivera, Incorporated, and 30% of this subsidiary's convertible bond. The following consolidated financials are for 2022 and 2023 (credit balances indicated by parentheses): 2022: Assets: $10,500 Liabilities: $28,750 Common Stock: $0 Retained Earnings: $118,500 Total Stockholders' Equity: $122,500 Total Liabilities and Stockholders' Equity: $320,750 Net Income: $74,750 Dividends: $25,200 Convertible Bond: $42,500 Long-term Assets: $200,000 Long-term Liabilities: ($1,700) 2023: Assets: $22,356 Liabilities: $48,450 Common Stock: $2,500 Retained Earnings: $104,500 Total Stockholders' Equity: $191,200 Total Liabilities and Stockholders' Equity: $358,909 Net Income: $51,680 Dividends: $49,200 Convertible Bond: $200,000 Long-term Assets: $20,550 Additional Information for Fiscal Year 2023: Bolero and Rivera's consolidated net income was $63,750. Rivera paid $4,000 in dividends during the year. Bolero paid $14,000 in dividends. Rivera sold $100 worth of merchandise to Bolero during the year. There were no purchases or sales of long-term assets during the year. Required:

          Texts: Bolero Company holds 80% of the common stock of Rivera, Incorporated, and 30% of this subsidiary's convertible bond. The following consolidated financials are for 2022 and 2023 (credit balances indicated by parentheses):

2022:
Assets: $10,500
Liabilities: $28,750
Common Stock: $0
Retained Earnings: $118,500
Total Stockholders' Equity: $122,500
Total Liabilities and Stockholders' Equity: $320,750
Net Income: $74,750
Dividends: $25,200
Convertible Bond: $42,500
Long-term Assets: $200,000
Long-term Liabilities: ($1,700)

2023:
Assets: $22,356
Liabilities: $48,450
Common Stock: $2,500
Retained Earnings: $104,500
Total Stockholders' Equity: $191,200
Total Liabilities and Stockholders' Equity: $358,909
Net Income: $51,680
Dividends: $49,200
Convertible Bond: $200,000
Long-term Assets: $20,550

Additional Information for Fiscal Year 2023:
Bolero and Rivera's consolidated net income was $63,750.
Rivera paid $4,000 in dividends during the year.
Bolero paid $14,000 in dividends.
Rivera sold $100 worth of merchandise to Bolero during the year.
There were no purchases or sales of long-term assets during the year.

Required:

texts bolero company holds 80 of the common stock of rivera incorporated and 30 of this subsidiarys convertible bond the following consolidated financials are for 2022 and 2023 credit balanc 66223

Added by Mary L.

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