On January Marigold Inc. purchased of the outstanding shares of common stock of Nature Net Inc. obtaining significant influence of the company. The shares were purchased for $ cash and Marigold Inc. intends for it to be a longterm investment. During the year, Nature Net Inc. reported net income of $ and declared and paid dividends of $
Additional information concerning is as follows.
Sales were $ all for cash.
Purchases were $ all paid in cash.
Salaries were $ all paid in cash.
Property, plant, and equipment was originally purchased for $ and is depreciated straightline over a year life with no salvage value.
Ending inventory was $
Cash dividends of $ were declared and paid by Marigold.
Ignore taxes.
The market rate of interest on bonds of similar risk was during all of their face value was $ and the coupon rate is equal to
Interest on the bonds is paid semiannually each June and January
In the Excel file, record the journal entries and folfow the accounting process to create the financial statements.
