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Ajax Corporation purchased at book value 7 0 percent of Beta Corporation's ownership and 9 0 percent of Cole Corporation's ownership in 2 0

Ajax Corporation purchased at book value 70 percent of Beta Corporation's ownership and 90 percent of Cole Corporation's ownership in 20\times 5. At the dates the ownership was acquired, the fair value of the noncontrolling interest was equal to a proportionate share of book value. There are frequent intercompany transfers among the companies. Activity relevant to 208 follows: intercorporate investments), Beta reported net income of $50,500, and from its separate operations (excluding income from
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Note: Do not round to be reported as consolidated net income
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