Pant IncOwns 80% of Sockswear Co

question 34

Multiple Choice

Pant Inc.owns 80% of Sockswear Co.During 2013, they reported revenues and expenses as follows: Pant revenues $10 million, expenses $8.5 million; Sockswear revenue $3.0 million, expenses $2.5 million.There were no intercompany sales.What would be the non-controlling interest on the consolidated income statement?

• A)$0
• B)$100,000
• C)$500,000
• D)$400,000

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