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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549FORM 10Q(MarkOne)?QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period
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How to fill out consolidated statements of income

01
Step 1: Gather the financial statements of all the subsidiary companies
02
Step 2: Identify and eliminate any intercompany transactions
03
Step 3: Combine the revenue and expense figures from each subsidiary into a consolidated statement
04
Step 4: Calculate the net income of the consolidated entity
05
Step 5: Prepare a statement of comprehensive income and disclose any non-controlling interests
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Step 6: Review and finalize the consolidated statements of income

Who needs consolidated statements of income?

01
Large corporations with multiple subsidiaries
02
Investors and shareholders
03
Financial institutions
04
Regulatory authorities
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Government agencies

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Consolidated statements of income are financial statements that present the total revenues, expenses, and profits of a parent company and its subsidiaries as a single entity.
Typically, publicly traded companies and parent companies with subsidiaries are required to file consolidated statements of income.
To fill out consolidated statements of income, aggregate the revenues and expenses of the parent company and all subsidiaries, eliminate intercompany transactions, and follow applicable accounting standards.
The purpose of consolidated statements of income is to provide a clear picture of the overall financial performance of a group of companies under common control.
Consolidated statements of income must report total revenue, cost of goods sold, gross profit, operating expenses, net income before taxes, and net income after taxes.
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