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Verizon acquired 90% of the voting common stock of AT&T on January 1, 2019. During 2019, AT&T had GAAP revenues of $2,000,000 and GAAP expenses
Verizon acquired 90% of the voting common stock of AT&T on January 1, 2019.
- During 2019, AT&T had GAAP revenues of $2,000,000 and GAAP expenses of $900,000.
- The annual amortization of the excess fair value allocations related to the AT&T acquisition totaled $100,000 in 2019.
The Nonontrolling interest's share of the earnings of AT&T for 2019 is calculated to be
A.$110,000
B.$100,000
C.$120,000
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