Question
Arnold Corporation holds 70 percent of Belvista, which, in turn, owns 70 percent of Stang. Separate operating income figures (excluding investment income) and intra-entity upstream
Arnold Corporation holds 70 percent of Belvista, which, in turn, owns 70 percent of Stang. Separate operating income figures (excluding investment income) and intra-entity upstream gains (on assets remaining within the consolidated group) included in the income for the current year follow:
| Arnold | Belvista | Stang | |||||||
| Separate operating income | $ | 625,000 | $ | 305,000 | $ | 240,000 | |||
| Intra-entity gains | 0 | 18,000 | 50,000 | ||||||
What is the amount of consolidated net income attributable to the noncontrolling interest?
a.163500
b.143100
c.213900
d.183000
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
9th edition
1-119-49356-3, 1119493633, 1119493560, 978-1119493631
