Police Corporation acquired 100 percent of Station Corporation's voting shares on January 1, 20X3, at underlying book value. At that date, the book values and fair values of Station's assets and liabilities were equal. Police uses the equity method in accounting for its investment in Station. Adjusted trial balances for Police and Station on December 31, 20X3, are as follows: Station Corporation Debit Credit $ 105,000 225,000 Item Current Assets Depreciable Assets (net) Investment in Station Corporation Depreciation Expense Other Expenses Dividends Declared Current Liabilities Long-Term Debt Common Stock Retained Earnings Sales Income from Station Corporation Police Corporation Debit Credit $ 145,000 325,000 170,000 25,000 105,000 40,000 $ 50,000 100,000 200,000 230,000 200,000 30,000 $ 810,000 $ 810,000 15,000 75,000 10,000 $ 40,000 120,000 100,000 50,000 120,000 $430,000 $430,000
Required:
Prepare the basic consolidation entry required on December 31, 20X3, to prepare consolidated financial statements. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Consider how health insurance affects the quantity of health care services performed. suppose that the typical medical procedure has a cost of $160, yet a person with health insurance pays only $40 out of pocket. her insurance company pays the remaining $120. (the insurance company recoups the $120 through premiums, but the premium a person pays does not depend on how many procedures that person chooses to undergo.) consider the following demand curve in the market for medical care. use the black point (plus symbol) to indicate the quantity of procedures demanded if each procedure has a price of $160. then use the grey point (star symbol) to indicate the quantity of procedures demanded if each procedure has a price of $40. q d at p=$160 q d at p=$40 0 10 20 30 40 50 60 70 80 90 100 200 180 160 140 120 100 80 60 40 20 0 price of medical procedures quantity of medical procedures demand if the cost of each procedure to society is truly $160, the quantity that maximizes total surplus is procedures. economists often blame the health insurance system for excessive use of medical care. given your analysis, the use of care might be viewed as excessive because consumers get procedures whose value is than the cost of producing them.

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Greentel, a telecom giant, has been using the service of orpheus inc. for training its employees. according to a deal signed by the two companies, orpheus inc. is not only responsible for training greentel's employees but also for providing comprehensive administrative services to the telecom giant. in this instance, greentel engages in