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 total stockholder's equity will be reported in the consolidated balance sheet prepared on December 31,2004?
Definitions:
Capital Contributions
Investments made by owners or shareholders into a company in exchange for an increase in ownership equity or stock without the need for repayment.
Total Share
The complete amount of stock issued by a company, including all shares currently held by shareholders.
Net Income
The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue.
Income Distribution
The way in which total income is shared among the members of an economy.
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