In computing the noncontrolling interest’s share of consolidated net income, how should the subsidiary’s income be adjusted for intra-entity transfers?
a. The subsidiary’s reported income is adjusted for the impact of upstream transfers prior to computing the noncontrolling interest’s allocation.
b. The subsidiary’s reported income is adjusted for the impact of all transfers prior to computing the noncontrolling interest’s allocation.
c. The subsidiary’s reported income is not adjusted for the impact of transfers prior to computing the noncontrolling interest’s allocation.
d. The subsidiary’s reported income is adjusted for the impact of downstream transfers prior to computing the noncontrolling interest’s allocation.
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