Grasper Corporation owns 60 percent of Latent Corporations common stock and 20 percent of Dally Corporations common stock. In addition, Latent owns 60 percent of Dallys stock. In 20X6, Grasper, Latent, and Dally reported operating income of $95,000, $60,000, and $50,000 and paid dividends of $45,000, $25,000, and $10,000, respectively.

a.What amount of consolidated net income will Grasper report for 20X6? $205,000

b.What amount of income will be assigned to the noncontrolling interest in the 20X6 consolidated income statement?

c.What amount of income will be assigned to the controlling interest in the 20X6 income statement?

d.What amount will be reported as dividends declared in Graspers 20X6 consolidated retained earnings statement?