Question 9 Not yet ansacred Marked out of 100 P Flag question Under the equity method of accounting subsidiary - retained earnings and the consolidated retained earnings are equal Select one: O O True O False Question 10 Not yet answered Marked out of 1.00 Flag question S Co an 80%-owned subsidiary of P Co,sold inventory items to its parent at a $48,000 loss in 2014. P resold one third of this inventory to outside entities. S reported net income of $200,000 for 2014. Noncontrolling interest share of consolidated net income that will appear in the income statement for 2014 is Select one: a. $43,200 b. $36,800 O c. $40,000 O d. $46,400