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13 Pizza Corporation acquired 75 percent of Slice Corporation's voting common stock on January 1, 20X4, for $350,000, when the fair value of its

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13 Pizza Corporation acquired 75 percent of Slice Corporation's voting common stock on January 1, 20X4, for $350,000, when the fair value of its net identifiable assets was $468,000 and the fair value of the noncontrolling Interest was $118,000. Slice reported common stock outstanding of $130,000 and retained earnings of $250,000. The excess of fair value over book value of Slice's net assets was attributed to amortizable assets with a remaining life of 10 years. On December 31, 20X4, Slice sold a building to Pizza and recorded a gain of $22,000. Income assigned to the noncontrolling shareholders in the 20X4 consolidated Income statement was $17,200. Required: a. Compute the amount of net Income Slice reported for 20X4. b. Compute the amount reported as consolidated net income if Pizza reported operating Income of $249,000 for 20X4. Consobdated net income c. Compute the amount of income assigned to the controlling interest in the 20X4 consolidated Income statement Income assigned to controlling interest

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