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Table of ContentsUNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10Q Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly
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A condensed consolidated statement is a financial report that summarizes the financial position and performance of a group of companies, including a parent company and its subsidiaries, in a condensed format.
Public companies and certain private companies that have subsidiaries are typically required to file a condensed consolidated statement as part of their financial reporting obligations.
To fill out a condensed consolidated statement, gather financial data from the parent company and its subsidiaries, and then consolidate income statements, balance sheets, and cash flow statements according to accounting standards, ensuring to eliminate inter-company transactions.
The purpose of a condensed consolidated statement is to provide a clearer and more concise view of the overall financial health and performance of a group of related companies to investors, regulators, and other stakeholders.
The condensed consolidated statement must report the consolidated total assets, total liabilities, equity, revenues, expenses, and net income of the group, as well as any significant notes or explanations regarding the financial data.
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