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P Company has a 90 percent interest in the capital stock of Company. Each year, during 2016 through 2021, P company has stand-alone net income
P Company has a 90 percent interest in the capital stock of Company. Each year, during 2016 through 2021, P company has "stand-alone" net income (i.e., from its own operations) of $60,000 and S company has net income equal to $50,000. (To be dear, stand alone net income is income before the equity-method accounting adjustments are recorded.) On December 31, 2015, S Company's stockholders' equity was $200,000. Neither company declared dividends through 2021. Required: 1. What is S Company's stockholders' equity on December 31, 2016 through 2021? S Company Stockholder's Equity December 31: 2016 2017 2018 2019 2020 2021 2. Calculate consolidated net income attributable to controlling interest for each year from 2016 to 2021: Consol. NI Attributable to Controlling Interest Calculation: Year ended: 2016 2017 2018 2019 2020 2021 3. Calculate consolidated income attributable to the noncontrolling interest in: Consol. NI Attributable to Noncontrolling Interest Calculation: Year ended: 2016 2017 2018 2019 2020 2021
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