Problem

Alder Corporation holds 80 percent of Beech, which, in turn, owns 80 percent of Cherry. Op...

Alder Corporation holds 80 percent of Beech, which, in turn, owns 80 percent of Cherry. Operating income figures (excluding investment income) and unrealized upstream gains included in the income for the current year follow:

 

Alder

Beech

Cherry

Operating income

$525,000

$315,000

$280,000

Unrealized gains

-0-

19,000

50,000

What is the noncontrolling interest’s share of consolidated net income?

a. $105,200.

b. $119,000.

c. $142,000.

d. $163,800.

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Solutions For Problems in Chapter 7