Problem

Intercompany investment percentages and 2011 earnings for three affiliates are as follows:...

Intercompany investment percentages and 2011 earnings for three affiliates are as follows:

 

Percentage Interest in Sad

Percentage Interest in Two

Separate Earnings

Pad Corporation

70%

$400,000

Sad Corporation

80%

240,000

Two Corporation

10%

160,000

REQUIRED: Compute controlling share of consolidated net income and noncontrolling interest share for 2011.

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Solutions For Problems in Chapter 9