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HELP!!! On January 1, 2011 Parker corporation purchased a 60% interest in Sealion corporation area book value equal to fair value. At that time, sealant
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On January 1, 2011 Parker corporation purchased a 60% interest in Sealion corporation area book value equal to fair value. At that time, sealant on the F 60% interest in Tipton corporation acquired at book value equal to fear value and is 16% interest winng company. The four companies had the following separate incomes and dividends for 2011, separate income does not include investment income or dividend income:
Parker: Seperate income $2,300,000/ Dividends $800,000
Sealent: SI $1,400,000/ dividends $500,000
Tipton: SI $700,000/ Dividends $400,000
Winny: SI $800,000/ Dividends $300,000
Required: Determine the controlling and non controlling interest shares of the consolidated net income.
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