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6. McGraw, Inc. owns 90 percent of the voting common stock of Hill Corp., while Hill owns 80 percent of the voting stock of Irwin
6. McGraw, Inc. owns 90 percent of the voting common stock of Hill Corp., while Hill owns 80 percent of the voting stock of Irwin Technology. McGraw's share of onsolidated net income should include McGraw's separate income pius: A) Hill's net income. B) 90 percent of Hill's separate income, plus 80 percent of Irwin's net income. C) 90 percent of Hill's separate income, plus 72 percent of Irwin's net income. D) none of the above. 7. First Co. owns 80 percent of Second, Inc.'s voting common stock. Second owns 10 percent of Third Corporation's voting common stock. First's share of consolidated net income should include First's separate income, plus First's share of Second's separate income: plus 10 percent of Third's net income. plus 8 percent of Third's dividends. C) plus 8 percent of Third's net income. D) plus 10 percent of Third's dividends. A) B)
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