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Hardford Corp

question 40

Multiple Choice

Hardford Corp. held 80% of Inglestone Inc., which, in turn, owned 80% of Jade Co. Excess amortization expense was not required by any of these acquisitions. Separate net income figures (without investment income) as well as upstream intra-entity gross profits (before deferral) included in the income for the current year follow:
Hardford Corp. held 80% of Inglestone Inc., which, in turn, owned 80% of Jade Co. Excess amortization expense was not required by any of these acquisitions. Separate net income figures (without investment income)  as well as upstream intra-entity gross profits (before deferral)  included in the income for the current year follow:    -Compute the net income attributable to the noncontrolling interest in Ross for 2018. A)  $92,000. B)  $77,400. C)  $75,000. D)  $64,500. E)  $69,000.
-Compute the net income attributable to the noncontrolling interest in Ross for 2018.

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