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Prepare a memo outlining the unique calculations required on the consolidation worksheet and on the statement of cash flows if Posey also obtains an international subsidiary with non-US$ functioning currency

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Prepare a memo outlining the unique calculations required on the consolidation worksheet and on the statement of cash flows if Posey also obtains an international subsidiary with non-US$ functioning currency.Southern New Hampshire University ACC 405: Advanced Accounting MILESTONE ONE (Due in Module Four) Instructions Milestone One 1 Supporting Calculations Calculate goodwill Calculate investment balance Calculate income assigned to the noncontrolling interest Calculate noncontrolling interest Calculate the gain or loss on retirement of bonds 2 Consolidating Entries Create consolidation entries 3 Consolidation Worksheet Prepare consolidation worksheet FINAL PROJECT ONE (Due in Module Six) Instructions Final Project Make corrections to Milestone One Prepare memo Module Six) Southern New Hampshire University ACC 405 Advanced Accounting INSTRUCTIONS FOR MILESTONE ONE (Due in Module Four) IMPORTANT NOTE: Make sure to completely review the rubric for Milestone One You might want to print out the financial information Show your work Use the data from this milestone and begin working on your final project due in Module Six ITEMS TO COMPLETE FOR THIS MILESTONE: GENERAL You are the accountant for Posey Company. Prepare computations, consolidation entries, and consolidation entries for the preparation of consolidated financial statements for 20X7. Show your calculations. SUPPORTING COMPUTATIONS a. Compute the amount of the goodwill as of January 1, 20X7. b. Compute the balance of Posey’s Investment in Stargell Stock account as of January 1, 20X7. (Do not round your intermediate calculations. Round your final answer to nearest whole dollar.) c. Compute the income that should be assigned to the noncontrolling interest in the 20X7 consolidated income statement. (Do not round your intermediate calculations. Round your final answer to nearest whole dollar.) d. Compute the total noncontrolling interest as of December 31, 20X6. (Do not round your intermediate calculations. Round your final answer to nearest whole dollar.) e. Compute the gain or loss on the constructive retirement of Stargell’s bonds that should appear in the 20X7 consolidated income statement. (Do not round your intermediate calculations. Round your final answer to nearest whole dollar.) HOME f. Present all consolidation entries that would appear in a three-part consolidation worksheet as of December 31, 20X7. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round your intermediate calculations. Round your final answers to nearest whole dollar.) g. Prepare and complete a three-part worksheet for the preparation of consolidated financial statements for 20X7. (Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.) FINANCIAL INFORMATION FOR THIS MILESTONE Refer to Trial Balance 2017 information (red tab) Posey Manufacturing Company acquired 90% of Stargell Corporation’s outstanding common stock on December 31, 20X5, for $1,116,900. At that date, the fair value of the noncontrolling interest was $124,100, and Stargell reported common stock outstanding of $487,000, premium on common stock of $267,000, and retained earnings of $407,000. The book values and fair values of Stargell’s assets and liabilities were equal except for land, which was worth $30,000 more than its book value. On April 1, 20X6, Posey issued at par $200,000 of 10% bonds directly to Stargell; interest on the bonds is payable March 31 and September 30. On January 2, 20X7, Posey purchased all of Stargell’s outstanding 10-year, 12% bonds from an unrelated institutional investor at 98. The bonds originally had been issued on January 2, 20X1, for 101. Interest on the bonds is payable December 31 and June 30. Since the date it was acquired by Posey Manufacturing, Stargell has sold inventory to Posey on a regular basis. The amount of such intercompany sales totaled $67,000 in 20X6 and $83,000 in 20X7, including a 30% gross profit. All inventory transferred in 20X6 had been resold by December 31, 20X6, except inventory for which Posey had paid $18,000 and did not resell until January 20X7. All inventory transferred in 20X7 had been resold at December 31, 20X7, except merchandise for which Posey had paid $16,667 As of December 31, 20X7, Stargell had declared but not yet paid its fourth-quarter dividend of $12,750. Both Posey and Stargell use straight-line depreciation and amortization, including the amortization of bond discount and premium. On December 31, 20X7, Posey’s management reviewed the amount attributed to goodwill as a result of its purchase of Stargell common stock and concluded that an impairment loss in the amount of $25,000 had occurred during 20X7 and should be shared proportionately between the controlling and noncontrolling interests. Posey uses the fully adjusted equity method to account for its investment in Stargell. On December 31, 20X7, trial balances for Posey and Stargell appeared as follows: Item Cash Posey Manufacturing Debit Credit $ 49,500 $ HOME Stargell Corporation Debit 39,000 Current Receivables 121,500 90,100 Inventory Investment in Stargell Stock Investment in Stargell Bonds Investment in Posey Bonds Land Buildings & Equipment Cost of Goods Sold Depreciation & Amortization Other Expenses Dividends Declared 317,000 364,900 Accumulated Depreciation Current Payables Bonds Payable Premium on Bonds Payable Common Stock Premium on Common Stock Retained Earnings, January 1 Sales Other Income Income from Stargell Corp. Total 1,243,800 985,000 200,000 1,241,000 518,000 2,940,000 1,915,000 1,829,000 426,000 184,000 65,000 632,000 61,000 206,000 51,000 $ 1,050,000 $ 699,190 200,000 597,000 213,000 1,000,000 3,000 910,000 487,000 610,000 267,000 2,848,950 457,000 3,010,000 143,000 801,000 50,000 132,660 $ 9,603,800 $ 9,603,800 $ 3,875,000 $ 3,875,000 Required: a. Compute the amount of the goodwill as of January 1, 20X7. Goodwill at acquisition Goodwill as of January 1, 20X7: FV of non-controlling interest FV consideration from Posey Total Book Value of Acquisition Difference on Acquisition Diference of Land Goodwill at acquisition 124,100 1,116,900 1,241,000 1,161,000 80,000 30,000 50,000 b. Compute the balance of Posey’s Investment in Stargell Stock account as of January 1, 20X7. (Do not round your intermediate calculations. Round your final answer to nearest whole dollar.) Balance in investment Stargell stockholders' equity, January 1, 20X7: Common Stock Premium on Common Stock Retained Earnings Total Equity Posey's Ownership in Stargell Posey's Book Value Shares Difference in Book Value on Acquisition Gross Profit on all inventory transferred Balance in Investment in Stargell Stock account, January 1, 20X7 487,000 267,000 457,000 1,211,000 90% 1,089,900 72,000 4,860 1,166,760 e. Compute the gain or loss on the constructive retirement of Stargell’s bonds that should appear in the 20X7 consolidated Gain Gain on constructive retirement of Stargell's bonds: Proceeds from bonds at 101% 1,010,000 Amortized premiums Value of the Bond at Reirement Posey's Price of the bond to Stargell Gain on constructive retirement of Stargell's bonds (6,000) 1,004,000 980,000 24,000 c. Compute the income that should be assigned to the noncontrolling interest in the 20X7 consolidated income statement. (Do not round your intermediate calculations. Round your final answer to nearest whole dollar.) Income to noncontrolling interest Interest Stargell's 20X7 net income * Add: Intercompany Profits realized 20x7 Gain on contractive retirement bonds Less: Unrealized Intercompany Profits Contractive gain on retirement bond by different affiliates Impairment Loss Income for apportionment Income to noncontrolling interest 10% 154,000 5,400 24,000 (5,000) (6,000) (25,000) 147,400 14,740 Net income calculations * Sales Other Income Total Less Expenses: COGS Deprecuation and Amortization Others Net income 801,000 50,000 851,000 426,000 65,000 206,000 697,000 154,000 d. Compute the total noncontrolling interest as of December 31, 20X6. (Do not round your intermediate calculations. Round your final answer to nearest whole dollar.) Total noncontrolling interest Total noncontrolling interest, December 31, 20X6: Stargell's stockholders' equity, December 31, 20X6 Unrealized intercompany profits on inventory sale Stargell's Equity on Dec 31,20x6 Difference in value of land Goodwill Total interest shares Stargell's noncontrolling interes shares Total noncontrolling interest, December 31, 20X6 1,211,000 (5,400) 1,205,600 30,000 50,000 1,285,600 10% 128,560 Milestone One instructions A Record the basic consolidation entry. Accounts A B Record the amortized excess value differential entry. C Credit 487,000 Premium on Common Stock 267,000 Retained Earnings 457,000 Stargell's Income 155,160 NCI of Stargell's NA Record the excess value (differential) reclassification entry. Debit Common Stock 17,240 Dividends 51,000 NCI in Stargell's NA D 133,240 Investment in Stargell 1,199,160 Record the reversal of last year's deferral. B E Impairment Loss 25,000 Investment in Stargell Record the deferral of the 20X7 unrealized profits on the inventory transfer. 22,500 NCI in Stargell's NI C F Record the elimination of the intercompany holdings of Posey's bonds. 2,500 Land Worth 30,000 Goodwill 25,000 Investment in Stargell 49,500 NCI in Stargell's NA 5,500 G Record the entry to eliminate the intercompany interest receivables/payables. D Investment in Stargell NCI in Stargell's NA H 4,860 540 COGS 5,400 Record the entry to eliminate the accrued interest on the intercompany bonds. E I 67,000 COGS Record the entry to eliminate the intercompany holdings of Stargell's bonds. J Sales 62,000 Inventory F Record the entry to eliminate the intercompany dividend payable/receivable. Bonds Payable 5,000 200,000 Investment in Posey's Investment G Curent Payables 200,000 5,000 Current Receivables H Other Income 5,000 20,000 Other Expense I Bonds Payable Premium on Bonds Payable Other Income on Interest 20,000 1,000,000 3,000 125,000 Investment in Stargell Bonds Posey Ownership J Posey NCI 1,089,900 121,100 154000 138,600 15,400 1,365,000 1,228,500 136,500 Less: Dividends 12,750 11,475 1,275 1,352,250 1,217,025 135,225 Total Posey NCI Net Income 154,000 138,600 15,400 Add: Unrealized Profit Less: Gross Profit Deferred Add: Bond Retirement Less: Amortization on Gain Income Eliminated 5,400 4860 540 (5,000) (4,500) (500) 24,000 21,600 2,400 (6,000) (5,400) (600) 172,400 155,160 17,240 1,314,000 1,182,600 131,400 5,400 4,860 540 (5,000) (4,500) (500) 24,000 21,600 2,400 Ending Book Value Unrealized Inventory (20x6) Deferred Inventory (20x7) Bond Retirement 119,000 Payables Receivables Closing Book Value Income 24,000 Other Expenses on Interest 90% Consolidation Entries Calculating Book Total Value Book Value at the beginning 1,211,000 Net Income 985,000 Gain on Retirement Bonds Amortization of Gain (6,000) (5,400) (600) Adjusted Book Value 1,332,400 1,199,160 133,240 11,475 11,475 POSEY MANUFACTURING COMPANY AND SUBSIDIARY Consolidated Financial Statement Worksheet December 31, 20X7 Posey Co. Stargell Corp. Income Statement Sales Other Income Less: COGS Less: Depr. & Amort. Expense Less: Other Expenses Goodwill Impairment Loss Gain on Bond Retirement Income from Stargell Corp. Consolidated Net Income NCI in Net Income Controlling Interest in NI 3,010,000 143,000 (1,829,000) (184,000) (632,000) 801,000 50,000 (426,000) (65,000) (206,000) 132,660 640,660 154,000 640,660 154,000 2,848,950 640,660 (61,000) 3,428,610 457,000 154,000 (51,000) 560,000 49,500 121,500 317,000 1,241,000 2,940,000 (1,050,000) 1,243,800 985,000 39,000 90,100 364,900 518,000 1,915,000 (597,000) Statement of Retained Earnings Beginning Balance Net Income Less: Dividends Declared Ending Balance Balance Sheet Assets Cash Current Receivables Inventory Land Buildings & Equipment Less: Accumulated Depreciation Investment in Stargell Stock Investment in Stargell Bonds Investment in Posey Bonds Goodwill Total Assets Liabilities & Equity Current Payables Bonds Payable Premium on Bonds Payable Common Stock Premium on Common Stock Retained Earnings NCI in NA of Stargell Corp. Total Liabilities & Equity 200,000 5,847,800 2,530,000 699,190 200,000 910,000 610,000 3,428,610 213,000 1,000,000 3,000 487,000 267,000 560,000 5,847,800 2,530,000 The full content of this question did not transfer to your assignment. Please try again. reload MIlestone 1 instructions Consolidation Entries DR CR Consolidated 67,000 145,000 24,000 22,500 252,900 2,500 255,400 3,744,000 48,000 (2,187,600) (249,000) (699,000) (25,000) 24,000 0 655,400 (14,740) 640,660 255,400 51,000 306,400 2,848,950 640,660 (61,000) 3,428,610 67,400 139,000 25,000 155,160 392,160 17,240 409,400 457,000 409,400 866,400 2,455,135 88,500 195,125 676,900 1,789,000 4,855,000 (1,647,000) 0 25,000 5,982,525 306,400 138,740 445,140 895,715 910,000 610,000 3,428,610 138,200 5,982,525 16,475 5,000 30,000 4,860 25,000 59,860 16,475 1,200,000 3,000 487,000 267,000 866,400 540 2,840,415 1,248,660 985,000 200,000 Southern New Hampshire University ACC 405: Advanced Accounting INSTRUCTIONS FOR FINAL IMPORTANT NOTE: Make sure to completely review the rubric for the final project. This page contains new information that must be included in the final project but has not been the milestone. ITEMS TO COMPLETE FOR THIS MILESTONE: GENERAL II. Final updated Excel Workbook and Memo h. Prepare a memo outlining the unique calculations required on the consolidation worksheet and on t flows if Posey also obtains an international subsidiary with non-US$ functioning currency. [AC Milestones Final Submission: Consolidation Workbook and Memo In Module Six, you will submit your final project. It should be a complete, polished artifact containing all of the c final product. It should reflect the incorporation of feedback gained throughout the course. In addition to revisin make sure that you include the following elements from the prompt above, which were not included in th Prepare a memo outlining the unique calculations required on the consolidation worksheet and on the flows if Posey also obtains an international subsidiary with non-US$ functioning curren This submission will be graded with the Final Project One Rubric. HOME t been the milestone. nsolidation worksheet and on the statement of cash n-US$ functioning currency. [ACC-405-02] hed artifact containing all of the critical elements of the the course. In addition to revising your milestone work, ove, which were not included in the milestones: olidation worksheet and on the statement of cash with non-US$ functioning currency. ACC 405 Final Project One Guidelines and Rubric Overview The first final project for this course is to prepare computations, consolidation entries, and a consolidation worksheet in an Excel worksheet. This worksheet focuses on the consolidation of the parent company and a less-than-wholly-owned subsidiary with differential, intercompany transfers and indebtedness. Additionally, you will create a memo outlining the unique calculations required on the consolidation worksheet and on the statement of cash flows if Posey also obtains an international subsidiary with non-US$ functioning currency. The final product represents an authentic demonstration of competency because accounting professionals are often asked to work within complex or unique business situations. Your response will rely heavily on using accounting standards to create reports, as well as considering any outstanding factors that could affect the report. Final Project One has one milestone, which will be submitted in Module Four to scaffold learning and ensure quality final submissions. Final Project One will be submitted in Module Six. In this assignment, you will demonstrate your mastery of the following course competencies: ? ? ACC-405-01: Analyze economic activity of complex or unique business situations ACC-405-02: Use accounting standards to create various financial reports intended for a variety of stakeholders. Prompt Review the Project One Scenario document. Then address the critical elements listed below. Most of the critical elements align with a particular course outcome (shown in brackets). I. Excel Workbook: In this section you will prepare computations, consolidation entries, and a consolidation worksheet for the preparation of consolidated financial statements for 20X7. Do not round your intermediate calculations. Round your final answer to the nearest whole dollar. If no entry is required for a transaction/event, select “No journal entry required” in the first account field. In regard to the three-part worksheet for the preparation of consolidated financial statements, values in the first two columns (the “parent” and “subsidiary” balances) that are to be deducted should be indicated with a minus sign, while all values in the “Consolidation Entries” columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. A. Calculate the amount of the goodwill as of January 1, 20X7. [ACC-405-01] 1 B. C. D. E. II. Calculate the balance of investment Posey has in the Stargell Stock account as of January 1, 20X7. [ACC-405-01] Calculate the income that should be assigned to the noncontrolling interest in the 20X7 consolidated income statement. [ACC-405-01] Calculate the total noncontrolling interest as of December 31, 20X6. [ACC-405-01] Calculate the gain or loss on the constructive retirement of Stargell’s bonds that should appear in the 20X7 consolidated income statement. [ACC-405-01] F. Present all consolidation entries that would appear in a three-part consolidation worksheet as of December 31, 20X7. [ACC-405-02] G. Prepare and complete a three-part worksheet for the preparation of consolidated financial statements for 20X7. [ACC-405-02] Memo: Assume Posey were to obtain an international subsidiary with non-US$ functioning currency. Prepare a short memo that addresses the following critical elements: A. Outline the unique calculations required to complete the consolidation worksheet. [ACC-405-02] B. Outline the unique calculations required on the statement of cash flows. [ACC-405-02] Milestones Milestone One: Consolidation Calculations, Entries, and Worksheets In Module Four, you will submit an Excel worksheet. This milestone will have the completed calculations and consolidation entries for the requirements for this project. This milestone will be graded with the Milestone One Rubric. Final Submission: Consolidation Workbook and Memo In Module Six, you will submit Final Project One. It should be a complete, polished artifact containing all of the critical elements of the final product. It should reflect the incorporation of feedback gained throughout the course. In addition to revising your milestone work, make sure that you include Section II: Memo, which was not included in the milestone. This submission will be graded with the Final Project One Rubric. Deliverables Milestone Deliverable Module Due Grading One Consolidation Calculations, Entries, and Worksheets Final Project One: Consolidation Workbook and Memo Four Graded separately; Milestone One Rubric Six Graded separately; Final Project One Rubric 2 Final Project One Rubric Guidelines for Submission: Your Excel workbook must be completed thoroughly. The memo should follow these guidelines: 1–2 pages in length, double spaced, 12-point Times New Roman font, one-inch margins, and citations in APA style. Critical Elements Excel Workbook: Goodwill [ACC-405-01] Exemplary Proficient Accurately calculates the amount of goodwill as of January 1, 20X7 (100%) Excel Workbook: Balance of Investment [ACC-405-01] Accurately calculates the balance of investment as of January 1, 20X7 (100%) Excel Workbook: Assigned Income [ACC-405-01] Accurately calculates the income assigned to noncontrolling interest with the 20X7 consolidated income statement (100%) Excel Workbook: Noncontrolling Interest [ACC-405-01] Accurately calculates the total noncontrolling interest as of December 1, 20X6 (100%) Excel Workbook: Gain or Loss [ACC-405-01] Accurately calculates the gain or loss on the constructive retirement of Stargell’s bonds on the 20X7 consolidated income statement (100%) 3 Needs Improvement Calculates the amount of goodwill but does not consider the date of January 1, 20X7, or response contains errors or is illogical (70%) Calculates the balance of investment but does not consider the date of January 20X7, or response contains errors or is illogical (70%) Calculates the income assigned to noncontrolling interest but does not consider the year of 20X7, or response contains errors or is illogical (70%) Calculates the total noncontrolling interest but does not consider the date of December 1, 20X6, or response contains errors or is illogical (70%) Calculates the gain or loss on the constructive retirement of Stargell’s bonds but does not consider the 20X7 statement, or answer contains errors or is illogical (70%) Not Evident Does not calculate the amount of goodwill as of January 1, 20X7 (0%) Value 9.50 Does not calculate the balance of investment as of January 1, 20X7 (0%) 9.50 Does not calculate the income assigned to noncontrolling interest with the 20X7 consolidated income statement (0%) 9.50 Does not calculate the total noncontrolling interest (0%) 9.50 Does not calculate the gain or loss on the constructive retirement of Stargell’s bonds (0%) 9.50 Critical Elements Excel Workbook: ThreePart Consolidation Entries [ACC-405-02] Exemplary Excel Workbook: ThreePart Worksheet [ACC-405-02] Memo: Unique Calculations for Consolidation Worksheet [ACC-405-02] Memo: Unique Calculations For Acquisition [ACC-405-02] Articulation of Response Meets “Proficient” criteria and uses industry-specific language to establish expertise (100%) Meets “Proficient” criteria and demonstrates a complex grasp of the unique calculations required (100%) Submission is free of errors related to citations, grammar, spelling, syntax, and organization and is presented in a professional and easy to read format (100%) Proficient Clearly and thoughtfully presents all consolidation entries that would appear in a three-part consolidation worksheet as of December 31, 20X7 (100%) Prepares and completes a three-part worksheet for the preparation of consolidated financial statements for 20X7 (100%) Outlines the unique calculations required to complete the consolidation worksheet (85%) Outlines the unique calculations required on the statement of cash flows (85%) Needs Improvement Presents consolidation entries but is missing information that would appear in a three-part consolidation worksheet, or does not consider the date of December 31, 20X7 (70%) Prepares and completes a three-part worksheet, but finished work contains inaccuracies (70%) Not Evident Does not present consolidation entries that would appear in a three-part consolidation worksheet (0%) Value 11.88 Does not prepare or complete a three-part worksheet (0%) 11.88 Includes some calculations but not all required calculations (55%) Does not outline the unique calculations required to complete the consolidation worksheet (0%) Does not outline the unique calculations required on the statement of cash flows (0%) 11.88 Submission has no major errors related to citations, grammar, spelling, syntax, or organization (85%) Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas (55%) Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas (0%) 4.98 Outlines some but not all calculations required on the statement of cash flows (55%) Total 4 11.88 100% ACC 405 Final Project One Scenario Posey Company Overview You are a financial accountant for Posey Company tasked with preparing consolidation documentation at year end. You have the following information: December 31, 20X5 Posey Company acquired 90% of Stargell Corporation’s outstanding common stock for $1,116,900. On that date: ? The fair value of the noncontrolling interest was $124,100; ? Stargell reported common stock outstanding of $487,000, premium on common stock of $267,000, and retained earnings of $407,000; the book values and fair values of Stargell’s assets and liabilities were equal except for land, which was worth $30,000 more than its book value. On April 1, 20X6 ? Posey issued at par $200,000 of 10% bonds directly to Stargell; interest on the bonds is payable March 31 and September 30. On January 2, 20X7 ? Posey purchased all of Stargell’s outstanding 10-year, 12% bonds from an unrelated institutional investor at 98. The bonds originally had been issued on January 2, 20X1, for 101. Interest on the bonds is payable December 31 and June 30. Since the date it was acquired by Posey ? Stargell has sold inventory to Posey on a regular basis. The amount of such intercompany sales totaled $67,000 in 20X6 and $83,000 in 20X7, including a 30% gross profit. ? All inventory transferred in 20X6 had been resold by December 31, 20X6, except inventory for which Posey had paid $18,000 and did not resell until January 20X7. ? All inventory transferred in 20X7 had been resold at December 31, 20X7, except merchandise for which Posey had paid $16,667. As of December 31, 20X7 ? Stargell had declared but not yet paid its fourth-quarter dividend of $12,750. ? Both Posey and Stargell use straight-line depreciation and amortization, including the amortization of bond discount and premium. ? On December 31, 20X7, Posey’s management reviewed the amount attributed to goodwill as a result of its purchase of Stargell common stock and concluded that an impairment loss in the amount of $25,000 had occurred during 20X7 and should be shared proportionately between the controlling and noncontrolling interests. ? Posey uses the fully adjusted equity method to account for its investment in Stargell. On December 31, 20X7, trial balances for Posey and Stargell appeared as follows: Item Cash Current Receivables Inventory Investment in Stargell Stock Investment in Stargell Bonds Investment in Posey Bonds Land Buildings and Equipment Cost of Goods Sold Depreciation & Amortization Other Expenses Dividends Declared Accumulated Depreciation Current Payables Bonds Payable Premium on Bonds Payable Common Stock Premium on Common Stock Retained Earnings, January 1 Sales Other Income Income from Stargell Corp. Total $ Posey Company Debit Credit 49,500 121,500 317,000 1,243,800 985,000 $ 200,000 518,000 1,915,000 426,000 65,000 206,000 51,000 1,241,000 2,940,000 1,829,000 184,000 632,000 61,000 $ $ 9,603,800 Stargell Corporation Debit Credit 39,000 90,100 364,900 $ 1,050,000 699,190 200,000 910,000 610,000 2,848,950 3,010,000 143,000 132,660 9,603,800 $ 3,875,000 $ 597,000 213,000 1,000,000 3,000 487,000 267,000 457,000 801,000 50,000 $ 3,875,000