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Use the following information for problems 89 : Bower Corporation purchased a 70% interest in Stage Corporation on June 1,2010 at a purchase price of

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Use the following information for problems 89 : Bower Corporation purchased a 70% interest in Stage Corporation on June 1,2010 at a purchase price of $385,000.0 n. June 1, 2010, the book values of Stage's assets and liabilities were equal to fair values On ]une 1, 2010, Stage's stockholders equity consisted of $290,000 of Common Stock and $210,000 of Retained Earnings All cost-book differentials were attributed to goodwill. During 2010, Stage earned $120,000 of net income, earned uniformly throughout the year and pard $6,000 of dividends on March 1 and another $6,000 on September 1 . 8) Calculate the following amount for 2010: a) Pre-acquisition Net Income b) Controlling interest share of Sage's Net Income for 2010 9) Calculate the following amounts for 2010 : a) Non-controlling interest share of Sage'sNet Income for 2010 b] Amount of Goodwill

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