On January 1,2004,Plimsol Company acquired 100 percent of Shipping Corporation's voting shares,at underlying book value.Plimsol uses the cost method in accounting for its investment in Shipping.Shipping's retained earnings was $75,000 on the date of acquisition.On December 31,2004,the trial balance data for the two companies are as follows:
-Based on the information provided,what amount of retained earnings will be reported in the consolidated balance sheet prepared on December 31,2004?
Definitions:
Specific Points
Defined locations or aspects in a given context that require focused attention or action for a particular purpose or outcome.
Pressure Point Therapy
A therapeutic technique that involves applying pressure to specific points on the body to relieve pain or promote health.
American Medical Association
A professional association of physicians in the United States aiming to promote the art and science of medicine and the betterment of public health.
Chiropractic Treatment
A healthcare approach focusing on diagnosing, treating, and preventing mechanical disorders of the musculoskeletal system, especially the spine.
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