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Ruestions from no. 9 to no. 11 are based on the following fact. Boulder, Inc, obtained 90 percent of Rock Corporation on January 1, 2016.
Ruestions from no. 9 to no. 11 are based on the following fact. Boulder, Inc, obtained 90 percent of Rock Corporation on January 1, 2016. Annual amortization of $22,000 is applicable on the allocations of Rock's acquisition-date business fair value. On January 1, 2017, Rock acquired 75 percent of Stone Company's voting stock. Excess business fair-value amortization on this second acquisition amounted to $8,000 per year. For 2018 , each of the three companies reported the following information accumulated by its separate accounting system. Separate operating income figures do not include any investment or dividend income: 9. What is consolidated net income for 2018 ? A. $450,100 B. $455,000 C. $450,000 D. $540,000 E. $(8,000) 10. What is the noncontrolling interest in Stone's Income? A. $35,500 B. $52,450 C. $45,000 D. $106,500 E. $450,000 11. What is the total net income attributable to noncontrolling interests? A. $35,500 B. $52,450 C. $45,000 D. $106,500 E. $450,000
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