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Pie Corporation acquired 8 5 percent of Slice Company's common stock on December 3 1 , 2 0 5 , at underlying book value. The
Pie Corporation acquired percent of Slice Company's common stock on December at underlying book value. The book
values and fair values of Slice's assets and liabilities were equal, and the fair value of the noncontrolling interest was equal to
percent of the total book value of Slice. Slice provided the following trial balance data at December X:
Required:
a How much did Pie pay to purchase its shares of Slice?
Note: Round your answer to nearest whole dollar amount.
b If consolidated financial statements are prepared at December what amount will be assigned to the noncontrolling
interest in the consolidated balance sheet?
Note: Round your answer to nearest whole dollar amount.
c If Pie reported income of $ from its separate operations for what amount of consolidated net income will be reported
for
d If Pie had purchased its ownership of Slice on January at underlying book value and Pie reported income of $ from
its separate operations for what amount of consolidated net income would be reported for
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