A subsidiary sold a depreciable asset to the parent company at a profit in the current period Will the income assigned to the noncontrolling interest in the consolidated income statement for the current period be more than, less than, or equal to a proportionate share of the reported net income of ...

Income assigned to noncontrolling interest for the current period will be less than a ...

A subsidiary sold a depreciable asset to the parent company at a profit in the current period.

Question:

A subsidiary sold a depreciable asset to the parent company at a profit in the current period. Will the income assigned to the noncontrolling interest in the for the current period be more than, less than, or equal to a proportionate share of the reported net income of the subsidiary? Why?

Consolidated Income Statement
When talking about the group financial statements the consolidated financial statements include Consolidated Income Statement that a parent must prepare among other sets of consolidated financial statements. Consolidated Income statement that is...