1. P owns 80% of S. P's separate income = $100k; S's Net Income = $60k. P's % of fmv increment amortization is $8k. There is no GW. Calculate P's % of Consolidated Net Income if there is a $10k unconfirmed gain, and the gain is a. downstream, or b. upstream. [$130k, $132k] 2. In year B, P Co. buys some of the outstanding bonds of their sub, S Co. Assume the resulting Loss on Constructive Bond Extinguishment is $120. During year B, the Interest Elimination Gain is $30. Also during year B, S Co. has new unconfirmed intercompany losses of $60 and confirmations of previously-unconfirmed gains of $15. P Co. has new unconfirmed intercompany gains of $90 and confirmations of previously-unconfirmed losses of $70. S reports Net Income in year B of $500 and declares dividends on CS of $90. P owns 80% of S's CS and reports Net Income of $800. Assume P's amortization of fair-value increment on S's Equipment is $20 in year B. P's % of Consolidated Net Income, year B is...? [628] 3. At the beginning of the year, an 80 percent owned subsidiary acquired a parent's bonds from unaffiliated parties at a gain of $20,000. The parent's bonds were originally issued at par and will mature four years after the date of the subsidiary's bond acquisition. The subsidiary uses the straight line method of amortization. In the consolidating workpapers prepared in the year of the subsidiary's bond acquisition, the noncontrolling interest should be increased by: $12,000. $ 4,000. $ 3,000. $ 0. eo