Fisher Company Acquired 80% of the Outstanding Shares of Gibbs

question 13

Multiple Choice

Fisher Company acquired 80% of the outstanding shares of Gibbs Company for $152 in cash.The net income was $100 and $20 for Fisher Company and Gibbs Company, respectively.None of the income resulted from intercompany sales.The net income on the consolidated income statement is_____.

• A)$80
• B)$96
• C)$100
• D)$116

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Definitions:

Respiratory Complications

Health issues related to the respiratory system, including infections, chronic diseases, and conditions that impair breathing.

Circadian Rhythm

The physical, mental, and behavioral changes that follow a 24-hour cycle, responding primarily to light and darkness in an organism's environment.

Impaired Judgment

Reduced ability to make thoughtful and wise decisions, often due to factors like substance abuse or neurological conditions.

Decreased Appetite

A reduction in the desire to eat or lack of interest in food, which can be a symptom of various medical conditions or psychological factors.