Part 2: Information for Questions 25-30 Consolidation Entrie…

Pаrt 2: Infоrmаtiоn fоr Questions 25-30 Consolidаtion Entries Income Statement Penn Co. Senn Co. Debit Credit Consolidated Sales 400,000 180,000 580,000 Less: COGS (180,000) (100,000) (280,000) Less: Wage expense (50,000) (34,000) (84,000) Less: Depreciation expense (30,000) (15,000) Cell 1 Less: Interest expense (25,000) (6,000) (31,000) Less: Other expenses (40,000) (2,000) (42,000) Less: Impairment loss Cell 2 Income from Senn Co. 13,200                                           Cell 3 Consolidated net income 88,200 23,000 18,400 5,200 Cell 4 NCI in net income                                                         Cell 5 Controlling Interest in Net Income 88,200 23,000                              Cell 6   Excel file with above information: Part 2 Information for Questions 25-30.xlsx