Consolidations with Income. Push Company purchased 60 percent of S on January 1, 20x1 for $600,000. On December 31, 20x0, Ss BV was $700,000. S held land with BV $40,000 and FMV $50,000 and equipment with BV $30,000 and FMV $50,000 and a remaining life of 5 years. Any excess of FMV over BV applies to trademarks with 30-year estimated lives.

During 20x1, Push Company reported income from operations (not including income from S) of $100,000. S reported $50,000 income with dividend payments of $20,000.

9. The parents share of Ss income is:

a. $22,200

b. $24,400

c. $26,800

d. $30,000

e. None of the above

10. The ending Non-Controlling Interest is:

a. $400,000

b. $402,000

c. $404,600

d. $406,800

e. None of the above