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Target Corporation acquired 70% of Alibaba Group's outstanding shares on January 1, 20X1, for $15 billion. Alibaba Group reported a net income of $3.5 billion

Target Corporation acquired 70% of Alibaba Group's outstanding shares on January 1, 20X1, for $15 billion. Alibaba Group reported a net income of $3.5 billion for the year ended December 31, 20X1. Present a consolidated income statement for Target Corporation and its subsidiary Alibaba Group for the year ended December 31, 20X1, delineating non-controlling interests.

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