Assume P buys 75% of a sub, for 200 million. The fair value of the noncontrolling 25% of the stock is 60 million. The sub's book value of equity was 210 million. All of the sub's assets and liabilities had fair values equal to their book values. In consolidation, as of the date of acquisition: a. There would be a gain on bargain purchase of 10 million b. There would be goodwill of 37.5 million C. There would be goodwill of 42.5 million d. There would be goodwill of 50 million. P bought 90% of Son Day 1, Year 1, for 9 million. The fair value of the NCI on that date was $910,000. Amortization related to certain of S's assets, where the fair value at the acquisition date was higher than the book value, was $60,000. S reported net income (ignoring this amortization) of $300,000, and paid a total of $100,000 of dividends during the year. What should be recorded as the noncontrolling interest in income in consolidation? a. $14,000 b. $20,000 c. 24,000 d. 30,000 e. 34,000 Use the same facts as in the prior question. What should be the noncontrolling interest shown on the consolidated balance sheet? a. $900,000 b. $910,000 c. $914,000 d. $920,000 e. $930,000 Assume Great owns 85% of Lesser. Greater has various revenues and expenses of its own. Lesser has various revenues and expenses. In the consolidated financial statements, "net income" will include: a. 100% of the net income of both Greater and lesser b. 100% of the income of Greater's operations, and none of the income of Lesser. c. 100% of the income of Greater, but only the 85% of Lesser's income to which Greater's shareholders have a right