2 on 1/1/2019 X CO acquired 80% of Y common stock for $150,000 in the same day the y net assets was $140,000 ,in the same date the fair value of assets and liabilities were equal .year ended 31/12/2019 Y reported income $50,000,declared dividend $30,000,X using equity methods what is non controlling interest in net income balance on 31/12/2019

Select one: a. 10,000 b. 4,000 c. 37,500 d. 41,500

3 S Co, an 80%-owned subsidiary of P Co, sold inventory items to its parent at a $48,000 profit in 2014. P resold one-third of this inventory to outside entities. S reported net income of $200,000 for 2014. Noncontrolling interest share of consolidated net income that will appear in the income statement for 2014 is

Select one: a. $33,600 b. $40,000 c. $30,400 d. $32,000