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On December 31,20X5,Space Co

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On December 31,20X5,Space Co.purchased 100% of the outstanding common shares of Shuttle Ltd.for $1,200,000 in shares and $200,000 in cash.The statements of financial position of Space and Shuttle immediately before the acquisition and issuance of the notes payable were as follows (in 000s): On December 31,20X5,Space Co.purchased 100% of the outstanding common shares of Shuttle Ltd.for $1,200,000 in shares and $200,000 in cash.The statements of financial position of Space and Shuttle immediately before the acquisition and issuance of the notes payable were as follows (in 000s): The difference in the carrying value and the fair value of the capital assets for Shuttle relates to its office building.This building was originally purchased by Shuttle in January,20X1 and is being depreciated over 30 years. During 20X6,the year following the acquisition,the following occurred: 1.Shuttle borrowed $350,000 from Space on June 1,20X6,and was charged interest at 10% per annum,which it paid on a monthly basis.There were no repayments of principal made during the remaining of the year. 2.Throughout the year,Shuttle purchased merchandise of $800,000 from Space.Space's gross margin is 30% of selling price.At December 31,20X6,Shuttle still owed Space $250,000 on this merchandise.75% of this merchandise was resold by Shuttle prior to December 31,20X6. 3.Shuttle paid dividends of $250,000 at the end of 20X6 and Space paid dividends of $500,000. During 20X7,the following occurred: 1.Shuttle paid $150,000 on the loan payable to Space on May 30,20X7. 2.Throughout the year,Shuttle purchased merchandise of $1,000,000 from Space.Space's gross margin is 30% of selling price.At December 31,20X6,Shuttle still owed Space $150,000 on this merchandise.85% of this merchandise was resold by Shuttle prior to December 31,20X7. 3.Shuttle paid dividends of $250,000 at the end of 20X7 and Space paid dividends of $500,000. Required: Prepare the consolidated statement of comprehensive income for the year ended December 31,20X7 for Space.
The difference in the carrying value and the fair value of the capital assets for Shuttle relates to its office building.This building was originally purchased by Shuttle in January,20X1 and is being depreciated over 30 years.
During 20X6,the year following the acquisition,the following occurred:
1.Shuttle borrowed $350,000 from Space on June 1,20X6,and was charged interest at 10% per annum,which it paid on a monthly basis.There were no repayments of principal made during the remaining of the year.
2.Throughout the year,Shuttle purchased merchandise of $800,000 from Space.Space's gross margin is 30% of selling price.At December 31,20X6,Shuttle still owed Space $250,000 on this merchandise.75% of this merchandise was resold by Shuttle prior to December 31,20X6.
3.Shuttle paid dividends of $250,000 at the end of 20X6 and Space paid dividends of $500,000.
During 20X7,the following occurred:
1.Shuttle paid $150,000 on the loan payable to Space on May 30,20X7.
2.Throughout the year,Shuttle purchased merchandise of $1,000,000 from Space.Space's gross margin is 30% of selling price.At December 31,20X6,Shuttle still owed Space $150,000 on this merchandise.85% of this merchandise was resold by Shuttle prior to December 31,20X7.
3.Shuttle paid dividends of $250,000 at the end of 20X7 and Space paid dividends of $500,000. On December 31,20X5,Space Co.purchased 100% of the outstanding common shares of Shuttle Ltd.for $1,200,000 in shares and $200,000 in cash.The statements of financial position of Space and Shuttle immediately before the acquisition and issuance of the notes payable were as follows (in 000s): The difference in the carrying value and the fair value of the capital assets for Shuttle relates to its office building.This building was originally purchased by Shuttle in January,20X1 and is being depreciated over 30 years. During 20X6,the year following the acquisition,the following occurred: 1.Shuttle borrowed $350,000 from Space on June 1,20X6,and was charged interest at 10% per annum,which it paid on a monthly basis.There were no repayments of principal made during the remaining of the year. 2.Throughout the year,Shuttle purchased merchandise of $800,000 from Space.Space's gross margin is 30% of selling price.At December 31,20X6,Shuttle still owed Space $250,000 on this merchandise.75% of this merchandise was resold by Shuttle prior to December 31,20X6. 3.Shuttle paid dividends of $250,000 at the end of 20X6 and Space paid dividends of $500,000. During 20X7,the following occurred: 1.Shuttle paid $150,000 on the loan payable to Space on May 30,20X7. 2.Throughout the year,Shuttle purchased merchandise of $1,000,000 from Space.Space's gross margin is 30% of selling price.At December 31,20X6,Shuttle still owed Space $150,000 on this merchandise.85% of this merchandise was resold by Shuttle prior to December 31,20X7. 3.Shuttle paid dividends of $250,000 at the end of 20X7 and Space paid dividends of $500,000. Required: Prepare the consolidated statement of comprehensive income for the year ended December 31,20X7 for Space.
On December 31,20X5,Space Co.purchased 100% of the outstanding common shares of Shuttle Ltd.for $1,200,000 in shares and $200,000 in cash.The statements of financial position of Space and Shuttle immediately before the acquisition and issuance of the notes payable were as follows (in 000s): The difference in the carrying value and the fair value of the capital assets for Shuttle relates to its office building.This building was originally purchased by Shuttle in January,20X1 and is being depreciated over 30 years. During 20X6,the year following the acquisition,the following occurred: 1.Shuttle borrowed $350,000 from Space on June 1,20X6,and was charged interest at 10% per annum,which it paid on a monthly basis.There were no repayments of principal made during the remaining of the year. 2.Throughout the year,Shuttle purchased merchandise of $800,000 from Space.Space's gross margin is 30% of selling price.At December 31,20X6,Shuttle still owed Space $250,000 on this merchandise.75% of this merchandise was resold by Shuttle prior to December 31,20X6. 3.Shuttle paid dividends of $250,000 at the end of 20X6 and Space paid dividends of $500,000. During 20X7,the following occurred: 1.Shuttle paid $150,000 on the loan payable to Space on May 30,20X7. 2.Throughout the year,Shuttle purchased merchandise of $1,000,000 from Space.Space's gross margin is 30% of selling price.At December 31,20X6,Shuttle still owed Space $150,000 on this merchandise.85% of this merchandise was resold by Shuttle prior to December 31,20X7. 3.Shuttle paid dividends of $250,000 at the end of 20X7 and Space paid dividends of $500,000. Required: Prepare the consolidated statement of comprehensive income for the year ended December 31,20X7 for Space.
On December 31,20X5,Space Co.purchased 100% of the outstanding common shares of Shuttle Ltd.for $1,200,000 in shares and $200,000 in cash.The statements of financial position of Space and Shuttle immediately before the acquisition and issuance of the notes payable were as follows (in 000s): The difference in the carrying value and the fair value of the capital assets for Shuttle relates to its office building.This building was originally purchased by Shuttle in January,20X1 and is being depreciated over 30 years. During 20X6,the year following the acquisition,the following occurred: 1.Shuttle borrowed $350,000 from Space on June 1,20X6,and was charged interest at 10% per annum,which it paid on a monthly basis.There were no repayments of principal made during the remaining of the year. 2.Throughout the year,Shuttle purchased merchandise of $800,000 from Space.Space's gross margin is 30% of selling price.At December 31,20X6,Shuttle still owed Space $250,000 on this merchandise.75% of this merchandise was resold by Shuttle prior to December 31,20X6. 3.Shuttle paid dividends of $250,000 at the end of 20X6 and Space paid dividends of $500,000. During 20X7,the following occurred: 1.Shuttle paid $150,000 on the loan payable to Space on May 30,20X7. 2.Throughout the year,Shuttle purchased merchandise of $1,000,000 from Space.Space's gross margin is 30% of selling price.At December 31,20X6,Shuttle still owed Space $150,000 on this merchandise.85% of this merchandise was resold by Shuttle prior to December 31,20X7. 3.Shuttle paid dividends of $250,000 at the end of 20X7 and Space paid dividends of $500,000. Required: Prepare the consolidated statement of comprehensive income for the year ended December 31,20X7 for Space.
Required:
Prepare the consolidated statement of comprehensive income for the year ended December 31,20X7 for Space.

Definitions:

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The degrees or amount of exposure to a particular substance, condition, or agent that an organism or ecological system experiences.

Toxins

Harmful substances produced by living organisms, including plants, animals, fungi, and bacteria, that can cause disease or damage when absorbed or ingested by others.

Uncertainty

The state of having limited knowledge where it is impossible to exactly describe the existing state, a future outcome, or more than one possible outcome.

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