Statistics homework help
Statistics homework help. Can you please help me with the followingThomas Inc. had the following stockholders’ equity accounts as of January 01, 2013:Preferred stock – $90 par value, nonvoting and nonparticipatin; 9% cumulative dividend $2,700,000Common stock – $25 par value $5,600,000Retained eanings $14,000,000Kuried Co. acquired all of the voting common stock of Thomas on January 01, 2013, for $20656,000. The preferred stock remained in the hands of outside parties and had a fair value of $3,060,000. A database valued at $656,000 was recognized and amortized over five years.During 2013, Thomas reported earning $630,000 in net income and paid $504,000 in total cash dividends. Kuried used the equity method to account for this investment. Prepare all consolidation entries for 2013. This includes a controlling part along with a non-controlling party. Can somebody please help me?