Arnold Corporation holds 70 percent of Belvista, which, in turn, owns 70 percent of Stang. Separate operating income figures (excluding investment income) and intra-entity upstream gains (on assets remaining within the consolidated group) included in the income for the current year follow: Arnold Belvista Stang Seperate operating income $625000 $305000 $240000 Intra-entity gains -0- 18000 50000 What is the amount of consolidated net income attributable to the noncontrolling interests? Choose the correct.a. $143,100b. $163,500c. $183,000d. $213,900
Arnold Corporation holds 70 percent of Belvista, which, in turn, owns 70 percent of Stang. Separate operating income figures (excluding investment income) and intra-entity upstream gains (on assets remaining within the consolidated group) included in the income for the current year follow: Arnold Belvista Stang Seperate operating income $625000 $305000 $240000 Intra-entity gains -0- 18000 50000 What is the amount of consolidated net income attributable to the noncontrolling interests? Choose the correct.a. $143,100b. $163,500c. $183,000d. $213,900
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Arnold Corporation holds 70 percent of Belvista, which, in turn, owns 70 percent of Stang. Separate operating income figures (excluding investment income) and intra-entity upstream gains (on assets remaining within the consolidated group) included in the income for the current year follow:
Arnold | Belvista | Stang | |
Seperate operating income | $625000 | $305000 | $240000 |
Intra-entity gains | -0- | 18000 | 50000 |
What is the amount of consolidated net income attributable to the noncontrolling interests? Choose the correct.
a. $143,100
b. $163,500
c. $183,000
d. $213,900
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