Master Level-Fall 2021/2022 Student Name Question 2 On Jan 1, 2020, X Company acquired 90% of y common stock by $150,000 noncontrolling interest is $50,000. The fair value of net assets of Y compa inventory which was higher than cost by $10,000, while they were sold de On Dec.31, 2020, both companies determined: X Y det income $50,000 $30,000 Dividends $10,000 $10,000 Compute 1. Consolidated Income 2. Income Assigned to NCI (Y Company) 3. Income Assigned to CI (X Company) Master Level-Fall 2021/2022 Student Name Question 2 On Jan 1, 2020, X Company acquired 90% of y common stock by $150,000 noncontrolling interest is $50,000. The fair value of net assets of Y compa inventory which was higher than cost by $10,000, while they were sold de On Dec.31, 2020, both companies determined: X Y det income $50,000 $30,000 Dividends $10,000 $10,000 Compute 1. Consolidated Income 2. Income Assigned to NCI (Y Company) 3. Income Assigned to CI (X Company)