Use the Following Information to Answer the Question(s)below

question 2

Multiple Choice

Use the following information to answer the question(s) below.
On January 1,2010,Shrimp Corporation purchased a delivery truck with an expected useful life of five years,and a salvage value of $8,000.On January 1,2012,Shrimp sold the truck to Pacet Corporation.Pacet assumed the same salvage value and remaining life of three years used by Shrimp.Straight-line depreciation is used by both companies.On January 1,2012,Shrimp recorded the following journal entry:
Pacet holds 60% of Shrimp.Shrimp reported net income of $55,000 in 2012 and Pacet's separate net income (excludes interest in Shrimp) for 2012 was $98,000.
-Controlling interest share in consolidated net income for 2012 was

• A)$121,000.
• B)$125,000.
• C)$131,000.
• D)$143,000.

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Aboriginal Population

People who can trace their origins to First Nations, Inuit, or Métis in Canada.

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