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Purple Corporation recently attempted to expand by acquiring ownership in Green Company. The following ownership structure was reported on December 31, 20X9: Investor Purple Corporation
Purple Corporation recently attempted to expand by acquiring ownership in Green Company. The following ownership structure was reported on December 31, 20X9: Investor Purple Corporation Green Company Orange Corporation Green Company Investee Green Company Orange Corporation Blue Company Yellow Company Percentage of Ownership Held 70% 10 60 40 The following income from operations (excluding investment income) and dividend payments were reported by the companies during 20X9: Company Purple Corporation Green Company Orange Corporation Blue Company Yellow Company Operating Income $91,200 19,500 39,350 98,000 59,500 Dividends Paid $61,600 10,100 29,500 83,200 39,100 Required: Compute the amount reported as consolidated net income for 20X9. Consolidated net income
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