Kings Has a 40% Joint Operation Interest in Fisher A)$0
B)$160
C)$400
D)$710

question 111

Multiple Choice

Kings has a 40% joint operation interest in Fisher. Based on the following information, what amount will be presented for "income from Fisher" on Kings' proportionately consolidated income statement? $$\begin{array} { | l | r | r | } \hline & \text { Kings } & \text { Fisher } \\\hline \text { Revenue } & \$ 1,000 & \$ 2,000 \\\hline \text { Income from Fisher } & 160 & \\\hline \text { Expenses } & 450 & 1,600 \\\hline \text { Net income } & 710 & 400 \\\hline\end{array}$$

• A)$0
• B)$160
• C)$400
• D)$710

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Definitions:

Surface Area

The total area that the surface of a three-dimensional object occupies, measured in square units.

Right Circular Cylinder

A 3-dimensional solid shape with straight parallel sides and a circular base exactly above or below each other.

Difference Of Two Squares

A special case of factoring in algebra that refers to the difference between two square numbers being factorable into the product of their sum and difference.

Perfect Square Trinomial

A trinomial that can be factored into a binomial squared, typically in the form \(a^2 + 2ab + b^2\) or \(a^2 - 2ab + b^2\).