1. Rojas Co. owned 7,000 shares (70%) of the outstanding 10%, $100 par, preferred stock and 60% of the outstanding common stock of Brett Co. Assuming there are no excess amortizations or intra-entity transactions, and Brett reports net income of $780,000, what is the noncontrolling interest in the subsidiary's income? A) $273,000 B) $234,000 C) $312,000 D) $284,000 E) $302,000 2. Campbell Inc. owned all of Gordon Corp. For 2018, Campbell reported net income (without consideration of its investment in Gordon) of $280,000 while the subsidiary reported $112,000. There are no excess amortizations associated with this consolidation. The subsidiary had bonds payable outstanding on January 1, 2018, with a book value of $297,000. The parent acquired the bonds on that date for $281,000. During 2018, Campbell reported interest income of $31,000 while Gordon reported interest expense of $29,000. What is consolidated net income for 2018? A) $378,000. B) $406,000. C) $394,000. D) $374,000 E) $410,000 3. A company had common stock with a total par value of $18,000,000 and fair value of $62,000,000; and 7% preferred stock with a total par value of $6,000,000 and a fair value of $8,000,000. The book value of the company was $85,000,000. Assuming ninety percent (90 % ) of the company's total equity is acquired, what amount must be attributed to the noncontrolling interest? A) $6,200,000. B) $8,500,000 C) $2,400,000. D) $6,929,400 E) $7,000,000