Lowell owns 80% of Boston. At the end of the year when Lowell consolidates with Boston, which of the following statement is true?

Multiple Choice

• Parent company net income equals consolidated net income.

• Total Equity equals parent's stockholders' equity.

• Parent company total assets equals consolidated total assets.

• Parent company's reported net income equals consolidated net income minus consolidated net income attributable to NCI.

• Goodwill is recorded on the parents books