Question 4 Not yet answered Marked out of 1.50 Remove flag On 1/1/2020,P co,purchased 70% of S co, outstanding shares for $150,000 when the fair value of S net assets were equal to the book values. The balance sheets of P and S Co at 1/1/2019 are summarized as follows: P S Assets 590,000 180,000 Liabilities 70,000 30,000 Capital stock 360,000 90,000 Retained earnings 160,000 60,000 If a consolidated balance sheet was prepared immediately after the business combination, the noncontrolling interest would be Select one: a. 40,500 b. 45,000 c. 50,000 d. 27,000