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17. Canco lnc, owns 70% of Supersonics and consolidates this subsidiary. In 2012, Supersonics eamed $1000000 after tax and Canco earned S1,000,000. Without consideration of
17. Canco lnc, owns 70% of Supersonics and consolidates this subsidiary. In 2012, Supersonics eamed $1000000 after tax and Canco earned S1,000,000. Without consideration of minority interests, the stockholders' equity of Supersonics at the cnd of 2012 was $1,200,000. Required: a. Deterinine the minority share of earnings in 2012.100300030/= t 50.3008 b. Determine the consolidated net income. c. Determine the minotily interest at the end of 2012 on the balance shicet. d. How, should minority interest be classified on the balance sheet for analysis? 17. Canco lnc, owns 70% of Supersonics and consolidates this subsidiary. In 2012, Supersonics eamed $1000000 after tax and Canco earned S1,000,000. Without consideration of minority interests, the stockholders' equity of Supersonics at the cnd of 2012 was $1,200,000. Required: a. Deterinine the minority share of earnings in 2012.100300030/= t 50.3008 b. Determine the consolidated net income. c. Determine the minotily interest at the end of 2012 on the balance shicet. d. How, should minority interest be classified on the balance sheet for analysis
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