Question 24 Not yet answered Marked out of 1.50 Flag question X Co owns 80% of the voting common shares of Y Co. Non-controlling interest was assigned $12,000 of income in the 2020 consolidated income statement. What amount of net income did Y Co report for the year? Select one: a. 75,000 b. 48,000 c. 60,000 d. 120,000 Question 23 Not yet answered Marked out of 1.50 P Flag question P Co paid $140,000 for a 70% interest in Scoon 1/1 2019,when Shad Capital Stock of $50,000 and Retained Earnings of $100,000. Fair values of net assets were the same as recorded book values. During 2019, had income of $20,000, declared dividends of $7,500,What will be the Balance of investment in S CO in P Co books On 31/12/2019 if it used equity methods?. Select one: a. 150,000 b. 148,750 c. 147,500 d. 152,500