Liong Corporation paid $2,500,000 in cash for an 80 percentinterest in Taro Corporation on January 1, 2016, when the bookvalue of Taro??s net assets was

Liong Corporation paid $2,500,000 in cash for an 80 percentinterest in Taro Corporation on January 1, 2016, when the bookvalue of Taroâ??s net assets was $2,250,000. Some additionalinformation is g Correction of consolidated net income Liong Corporation paid \( \$ 2,500,000 \) in cash for an 80 percent interest in Taro Corporation on January 1,2016 , when the book value of Taro's net assets was 0 answers