Use the Following Information to Answer Question(s) Below

question 35

Multiple Choice

Use the following information to answer question(s) below.

On January 1, 2014, Punch Corporation purchased 80% of the common stock of Soopy Co. Separate balance sheet data for the companies at the acquisition date (after the acquisition) are given below:

-What is the amount of consolidated Retained Earnings?

• A)$224,000
• B)$259,200
• C)$304,000
• D)$324,000

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Definitions:

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An area designated for the protection of the unique ecosystems and biodiversity found in desert environments.

Cactus Wren

The largest North American wren, characterized by its distinctive white and black plumage and adaptation to desert life.

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Organisms that convert light energy into chemical energy through photosynthesis, providing the base for most of Earth's food chains.