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Answer the following questions by reference to the FASB Codification of Accounting Standards . Include the appropriate reference in your response. PR 5-1 Should the

Answer the following questions by reference to the FASB Codification of Accounting Standards . Include the appropriate reference in your response.

PR 5-1 Should the consolidated financial statements include the subsidiarys retained earnings at the acquisition date?

PR 5-2 Does noncontrolling interest represent a liability or an equity in the consolidated balance sheet?

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