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I need the answer as soon as possible Please. And I will Give Upvote Time left 1:50:14 Pino Corporation owned a 90% interest in a
I need the answer as soon as possible Please. And I will Give Upvote
Time left 1:50:14 Pino Corporation owned a 90% interest in a subsidiary, Sino Company, which was accounted for by the equity method. During 2020, Pino had income, exclusive of intercompany investment income, of $290.000, Pino share in Sino net income $243,000. Sino declared and paid a $80,000 dividend during Year 2020. There were no differences between the current fair values and carrying amounts of Sino's identifiable net assets on the date of the business combination, and there was no goodwill in the business combination. Sino net income for 2020 is: a $ 533,000. b. S 560,000. c. $ 270,000. d. $ 243.000Step by Step Solution
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