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On January 1 , 2 0 1 4 , P Company purchased an 8 0 % interest in S Company for $ 6 0 8
On January P Company purchased an interest in S Company for $ at which
time S Company had retained earnings of $ and common stock of $ Any
difference between book value and the value implied by the purchase price was entirely
attributable to a patent with a remaining useful life of years.
Assume that and Companies reported net incomes from their independent operations of
$ and $ respectively.
Calculate the controlling interest and noncontrolling interest in consolidated net income for the
year ended December
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