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Husky acquired 90% of Cougar on January 1, 2020 in an acquisition that resulted in annual amortization of $10,000. For the year ended December 31,
Husky acquired 90% of Cougar on January 1, 2020 in an acquisition that resulted in annual amortization of $10,000. For the year ended December 31, 2020 Husky reported Net Income of $500,000 (excluding any income from Cougar) and Cougar separately reported Net Income of $100,000. Compute the amount of income that would be allocated to the noncontrolling interest for the year ended December 31, 2020.
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