How much of company a retained earnings

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Reference no: EM133005100

Question - Company A acquired 100% of Company B on January 1, 2012, at a premium to book value and wants to prepare consolidated balance sheet for the combined entity as of December 31, 2013, using the information below.

 

Company A ($)

Company B ($)

Retained Earnings (Jan 1)

200,000

50,000

Net Income during 2013

80,000

20,000

Retained Earnings (Dec 31)

280,000

70,000

How much of Company A's retained earnings are the result of its own operations.

Reference no: EM133005100

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