Note: This question is the requirement 3 of the previous problem. Return to previous page for information if needed. 3. Ignore your answer in requirement 1. Now assume that the loss on retirement of bonds was $ 32,000 and same amounts of interest expense/revenue from the tables (i.e. interest expense is $35.732, and interest revenue is $33,835). Further assume that Kiwi reports net income of $480,000 for the current year and the total annual excess amortization resulting from the acquisition was $18,000 Based on the new assumption, allocate Kiwi's current year's income to the controlling interest and noncontrolling interest. (4 points to the Cl and 2 points to NCI) Answer To controlling interest: To non-controlling interest: Note: This question is the requirement 3 of the previous problem. Return to previous page for information if needed. 3. Ignore your answer in requirement 1. Now assume that the loss on retirement of bonds was $ 32,000 and same amounts of interest expense/revenue from the tables (i.e. interest expense is $35.732, and interest revenue is $33,835). Further assume that Kiwi reports net income of $480,000 for the current year and the total annual excess amortization resulting from the acquisition was $18,000 Based on the new assumption, allocate Kiwi's current year's income to the controlling interest and noncontrolling interest. (4 points to the Cl and 2 points to NCI) Answer To controlling interest: To non-controlling interest