QUESTION 1 10 points Save Answer The investor acquired 80% ownership of investee that remains as a separate legal entity after the acquisition. When it comes to consolidation, which of the following statements is incorrect? A. The parent needs to consolidate 80% of investee's assets and liabilities into 100% of its own. The ownership interests of the Noncontrolling Shareholders must be reflected in the consolidated financial statements. C. The consolidation is substantially unchanged with the presence of NCI. OD Consolidated Net Income on Consolidated Income Statement is further attributed to (1) NCI and (2) Parent company B