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A parent company purchased an 80% interest in its subsidiary several years ago with no AAP (i.e., purchased at book value). Each following income statement
A parent company purchased an 80% interest in its subsidiary several years ago with no AAP (i.e., purchased at book value). Each following income statement for the current year. a. Compute the Income (loss) from subsidiary of $193,200 reported by the parent company. b. Prepare the consolidated income statement for the current year. Do not use negative signs with your answers
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