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CONSOLIDATED FINANCIAL STATEMENTS STEPS: 1. Step 1 is same as Stock Acquisition 2. Working Paper Entries a. Eliminate b. Update c.

Recognize Goodwill i. NI/NL ii. Amortize* - Mdse / Invty Update Y1 Amortize in Full - Land Update Y1 Walang bawian - Other Assets Update Y1 Patent / Remaining Useful life x (n/12) Plant Assets iii. Amortization Table*(Example) Name of Asset +/- Update AY1 AY2 1. Mdse. +78,750 (78,750) 0 2. Plant Asset +131,250 (13,125*) (13,125) 3. Patent + 52,500 (10,500*) (10,500) 262,500 102,375 23,625 * (131,250/10) x (12/12) = 13,123 * (52,500/5) x (12/12) = 10,500 iv. Impairment (Assumed value kasi yung ginamit. (Example)
80% ; 20,000 25, 000 20%; 5,000 Subsidiary Parent GOODWILL 20% 18,000 80% 72,000

OFFICIAL FORMULA #1 - NCINIS (MINI) Y1 [Nominal Account - Not Cumulative] NCINIS - Non Controlling Interest in NI of Subsidiary MINI - Minority Interest in NI NI-SY1 +/- Amortization______________________ NI as adjusted subject to Impairment Loss or x NCI%______________________________ Total Impairment Loss attributable to S. Company NCINIS OFFICIAL FORMULA #2 - NCINAS (MINA) [Real Account - Cumulative] NCINAS - Non Controlling Interest in Net Assets of Subsidiary SHE + NI - S + Dividends - S +/- Excess +/- Amortization Goodwill (Impairment Loss) x NCI %_________ NCINAS ERIKA MAE ARMES RELLORES x x x x x x (x) X x x SHE + NI - S + Dividends - S +/- Excess +/- Amortization_____________________ NA as Adjusted subject to Impairment Loss x NCI %_____________________________ NCINAS before GW and IL + GW attributable to S - IL attributable to S_________________ NCINAS NI - SY1 +/- Amortization (Impairment Loss) NI as Adjusted X NCI%_________ NCINIS Y1 x x (x) x (x) x x x x x x (x) x

or

x x x x x x x x x (x) x

OFFICIAL FORMULA #3 Consolidated Net income (Direct Method) NI - PY1 x NI - SY1 x (Amortization) (x) (Impairment Loss) (x) (Inter-company Dividend) (x) IFA Y1 _-_ CNI x (NCINIS) (x) CNI-P x Consolidated Net Income (2-Birds) P(50%) NI - P x NI - S x (Amortization) (x) (Impairment Loss) (x) (Intercompany Dividend) (x) IFA-P -0x

S(50%) -0x (x) (x) (x) -0x

OFFICIAL FORMULA # 4 - CRE - Consolidated Retained Earnings RE - POTDOA x + CNI - P x (Dividend dec. by P) (x) CRE x OFFICIAL FORMULA # 5 - CSHE - Consolidated Shareholders Equity C/S - P x + APIC - P x + CRE x + NCINAS x CSHE x d. WP Entries: Amortize and Impair e. Eliminate Intercompany Dividend f. Rivalry

ERIKA MAE ARMES RELLORES