Pop Corporation increases its ownership interest in its subsidiary, Son Corporation, from 70 percent on January 1,

Question:

Pop increases its ownership interest in its subsidiary, Son from 70 percent on January 1, 2016, to 90 percent at July 1, 2016. Son's net income for 2016 is $200,000, and it declares $60,000 dividends on March 1 and $60,000 on September 1.
REQUIRED:
Show the allocation of Son's net income and dividends among controlling interests, noncontrolling interests, and preacquisition interests.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...