Minion Ltd acquired 20% and significant influence over the operations of Hoola Ltd and control over the operations of Mend Ltd on 1 July 20X0. Hoola Ltd reported a profit of $800,000 for the year ended 30 June 20X1. For its financial year ended 30 June 20X1, Minion Ltd would report a share of Hoola Ltds profit of:

Select one:

a $160,000 in the separate financial statements of Minion Ltd.

b Would not report any amount anywhere.

c $160,000 in the consolidated financial statements of the Minion Group.

d $800,000 in the consolidated financial statements of the Minion Group.