Thomas Inc Kuried Co Acquired All of the Voting Common Stock of Thomas

question 98

Essay

Thomas Inc. had the following stockholders' equity accounts as of January 1, 2013: $\begin{array}{lr}\text { Preferred stock - } \$ 90 \text { par value, nonvoting and nonparticipating; }\\\text {\( 9 \% \) cumulative dividend }&\$2,700,000\\\text {Common stock - \$25 par value }&5,600,000\\\text {Retained earnings }&14,000,000\\\end{array}$
Kuried Co. acquired all of the voting common stock of Thomas on January 1, 2013, for $20,656,000. The preferred stock remained in the hands of outside parties and had a fair value of $3,060,000. A database valued at $656,000 was recognized and amortized over five years.
During 2013, Thomas reported earning $630,000 in net income and paid $504,000 in total cash dividends. Kuried used the equity method to account for this investment.
What was the non-controlling interest's share of consolidated net income for the year 2013?

Relate economic theories to real-world examples of income distribution and discrimination.

Evaluate the role of government and public policy in addressing income inequality and discrimination.

Understand the basic concept of income distribution and the use of Lorenz curves and Gini ratios to analyze income inequality.

Analyze the impact of various factors on household income levels and distribution.

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Definitions:

Ancestral Past

Refers to historical or evolutionary antecedents of modern humans, impacting genetics, behavior, and societal structures.

Freud's Emphasis

Centers on the role of unconscious processes and childhood experiences in shaping personality and behavior.

Sexuality

The capacity for sexual feelings and their expression, as well as an individual's sexual orientation, preferences, and identity.

Childhood Experiences

Events and influences that occur during childhood, significantly shaping an individual's personality, behavior, and life choices.