6. ASSUMING THE RETAINED EARNINGS OF SUBSIDIARY ON DEC. 31, 2021 IS 350,000, DETERMINE THE NON-CONTROLLING INTEREST TO BE REPORTED IN THE CONSOLIDATED FINANCIAL STATEMENTS ON DEC. 31, 2021, ASSUMING NO CHANGES TO SUBSIDIARY COMPANY'S ORDINARY SHARES

7. Based on the preceding information, what is the amount of comprehensive income attributable to the controlling interest in 2018?

8. ASSUMING IT HAS NO OTHER SUBSIDIARIES AND TRANSACTIONS AFFECTING THE NET INCOME AT A CONSOLIDATED LEVEL, COMPUTE THE NET INCOME OF COMPANY A AT A CONSOLIDATED LEVEL GIVEN THE ADDITIONAL INFORMATION

On January 1, 2018, Parent Company purchased 80% of the outstanding shares of Subsidiary Company for P800,000. On the date of acquisition, Subsidiary Company reported Ordinary Shares of P800,000 and Retained Earnings of P200,000. Subsidiary's Inventory was understated by P20,000; Equipment with a 5-year life was understated by P20,000, Building with an 8-year life was understated by P80,000 and land was understated by P40,000. The non-controlling interest is to be stated at fair value and the fair value of the non-controlling interest on January 1, 2018 is P210,000. The following are taken from the books of Parent and Subsidiary for 2018. Sales Gross Profit Net Income Dividend Declared (to be paid on Jan 15, 2019) Total Assets Parent 2,000,000 550,000 200,000 100,000 5,000,000 Subsidiary 1,500,000 350,000 150,000 50,000 4,000,000 From the data above, determine: Assuming the retained earnings of Subsidiary on December 31, 2021 is P350,000, determine the non-controlling interest to be reported in the consolidated financial statements on December 31, 2021 assuming no changes to Subsidiary company's ordinary shares. On January 1, 2017, Bright Company acquired 80% of Animo Company's common stock for 280,000 cash. At that date, Animo reported common stock outstanding of 200,000 and retained earnings of 100,000 and the fair Animo's assets and liabilities were equal, except for other intangible assets, which has a fair value 50,000 greater than book value and an 8- year remaining life. Animo reported the following data for 2017 and 2018. Year Net Income Comprehensive Income Dividends Paid 2017 25,000 30,000 5,000 2018 35,000 45,000 10,000 Bright reported separate net income from own operations of 100,000 and paid dividends of 30,000 for both years. Based on the preceding information, what is the amount of comprehensive attributable to the controlling interest in 2018? Company A has a subsidiary, which is accounted for in its separate financial statements using the cost method. At the end of 2016, Company A reports net income of P200,000 in its separate financial statements. Share in net income of subsidiary Cash dividends paid by subsidiary and received by Company A Increase in fair value of investment 40,000 35,000 120,000 Assuming it has no other subsidiaries and other transactions affecting the net income at a consolidated level, compute the net income of Company A at a consolidate level given the following additional information