Gardner Corp

question 6

Multiple Choice

Gardner Corp. owns 80% of the voting common stock of Lockhart Co. Lockhart owns 70% of Canning Co. Gardner and Lockhart both use the initial value method to account for their investments. The following information is available from the financial statements and records of the three companies: Separate company net income includes intra-entity gains before the consolidating deferral but does not include dividend income from investment in subsidiary.For Gardner Corp. and consolidated subsidiaries, what total amount would be reported for the net income attributable to the noncontrolling interest?

• A) $141,700.
• B) $152,200.
• C) $120,700.
• D) $202,050.
• E) $212,550.

---

Definitions:

Prolonged Erections

An erection lasting more than four hours without sexual arousal, known medically as priapism, requiring immediate medical attention.

Internalized Homophobia

Negative attitudes and affects toward homosexuality in other persons and toward same-sex attraction in oneself.

Homosexuality

The sexual attraction or romantic affection towards individuals of the same sex.