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In 2 0 2 3 , K - Tech reports $ 3 0 , 0 0 0 net income and declares no dividends. At the
In KTech reports $ net income and declares no dividends. At the end of the two companies report the following
figures stockholders equity accounts have been omitted:
Note: Parentheses indicate a credit balance.
Required:
a Compute the consolidated net income before allocation to the controlling and noncontrolling interests.
b In assuming KTech has declared no dividends, compute the noncontrolling interest's share of the subsidiary's income and
the ending balance of the noncontrolling interest in the subsidiary.
c Compute the amount reported for trademarks in the consolidated balance sheet.
Answer is complete but not entirely correct.
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