Company A sold equipment to Company B (a wholly owned subsidiary) for $350,000 in cash The equipment had originally cost $315,000 but had a book value of only $192,500 when transferred On that date, the equipment had a five year remaining life Depreciation expense is computed using the straight line method Company A reported $450,000 in net income in 2018 (not including any investment income) while Company B reported $147,500 Company A attributed any excess acquisition date fair value to Company B's un patented technology, which was amortized at a rate of $5,500 per year What is consolidated net income for 2018 What is the parent's share of consolidated net income for 2018 if Company A owns only 90 percent of Company B What is the parent's share of consolidated net income for 2018 if Company A owns only 90 percent of Company B and the equipment transfer was upstream What is the consolidated net income for 2019 if Company A reports $470,000 (does not include investment income) and Company B $159,000 in income Assume that Company B is a wholly owned subsidiary and the equipment transfer was downstream

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Company A sold equipment to Company B (a wholly owned subsidiary) for $350,000 in cash. The equipment had originally cost $315,000 but had a book

Company A sold equipment to Company B (a wholly owned subsidiary) for $350,000 in cash. The equipment had originally cost $315,000 but had a book value of only $192,500 when transferred. On that date, the equipment had a five-year remaining life. Depreciation expense is computed using the straight-line method.

Company A reported $450,000 in net income in 2018 (not including any investment income) while Company B reported $147,500. Company A attributed any excess acquisition-date fair value to Company B's un-patented technology, which was amortized at a rate of $5,500 per year.

What is consolidated net income for 2018?
What is the parent's share of consolidated net income for 2018 if Company A owns only 90 percent of Company B?
What is the parent's share of consolidated net income for 2018 if Company A owns only 90 percent of Company B and the equipment transfer was upstream?
What is the consolidated net income for 2019 if Company A reports $470,000 (does not include investment income) and Company B $159,000 in income? Assume that Company B is a wholly owned subsidiary and the equipment transfer was downstream.