The financial statements for Jode Inc. and Lakely Corp., just prior to their combination, for the year ending December 31, 2017, follow. Lakely's buildings were undervalued on its financial records by $60,000. Jode Inc. Lakely Corp. Revenues $ 1,300,000 $ 500,000 Expenses (1,180,000 ) (290,000 ) Net income $ 120,000 $ 210,000 Retained earnings, January 1, 2017 $ 700,000 $ 500,000 Net income (from above) 120,000 210,000 Dividends declared (110,000 ) (110,000 ) Retained earnings, December 31, 2017 $ 710,000 $ 600,000 Cash $ 160,000 $ 120,000 Receivables and inventory 240,000 240,000 Buildings (net) 700,000 350,000 Equipment (net) 700,000 600,000 Total assets $ 1,800,000 $ 1,310,000 Liabilities $ 250,000 $ 195,000 Common stock 750,000 430,000 Additional paid-in capital 90,000 85,000 Retained earnings, 12/31/17 710,000 600,000 Total liabilities and stockholders equity $ 1,800,000 $ 1,310,000 ________________________________________ On December 31, 2017, Jode issued 54,000 new shares of its $10 par value stock in exchange for all the outstanding shares of Lakely. Jode's shares had a fair value on that date of $35 per share. Jode paid $34,000 to an investment bank for assisting in the arrangements. Jode also paid $24,000 in stock issuance costs to effect the acquisition of Lakely. Lakely will retain its incorporation. References Section BreakSB The financial statements for Jode Inc. and... SA Qu. 113 Determine consolidated net... Required: Determine consolidated net income for the year ended December 31, 2017.

Where should a noncontrolling interest appear on a consolidated balance sheet?

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