i need answer to this questoin
Answer: In the balance sheet, minority interest to be reported as:
Share of minority interest in net assets: 30%( $ 25 - $ 15) : $ 3 million
Share in income and dividend: 30%( 454021-80, 786 - 190643) = $ 54,778
Total share of minority interest: 3,000,000 + 54,778
= $ 3,054,778
In the income statement: 30% of $ 454,021- 80,786= $ 111,970
In statement of cash flows in financing activities as dividend paid: 30%( 190,643) = $ 57,193.
Cheyenne Corp. bought 70% of Laramie Co. on 1/1/2021 for $14.6 million. Laramie is not a publicly traded company. At the time, Laramie had assets of $25 million and liabilities of $15 million on its books. During Q1 2021, Laramie reported $454021 in earni