(in thousands)
Kellogg's Dr (Cr)
Wholesome Dr (Cr)
Debit
Credit
Consolidated Balances Dr (Cr)
Current assets $21,000 $12,000 0 x (1-3) $33,000 x
Plant and equipment, net 157,590 115,200 (O) 0 x 0 x (R) 0 x
Investment in Wholesome 76,896 - 76,896 × (C) 0
0 × (E)
0 x (R)
Identifiable intangibles 60,000 6,000 (R) 0 x 0 x (O) (81,000) x
Goodwill - - (R) 0 x 0 x (O) (45,000) x
Current liabilities (18,000) (15,000) (33,000)
Long-term debt (210,000) (60,000) (270,000)
Capital stock (48,000) (32,400) (Ε) 32,400 (48,000)
Retained earnings, Jan. 1 (34,609) (22,800) (1-2) 0 x 57,409 x
(E) 0 x
Noncontrolling interest 0 x (E) 21,000 x
0 x (R)
0 x (N)
Sales revenue (240,000) (84,000) (1-1) 36,000 (288,000)
Equity in NI of Wholesome (677) (C) 677 0
Cost of goods sold 150,000 39,000 (1-3) 0 x 0 x (1-2) (153,000) x
0 x (1-1)
Operating expenses 85,800 42,000 (O) 0 x (127,800) x
Noncontrolling interest in NI - - (N) 0 x 275 x
Total $0 $0 $ 0x $ 0 x $ 0