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

question 3

Multiple Choice

Use the following information to answer the question(s) below.

Paint Corporation owns 82% of Achille Corporation and Achille Corporation owns 80% of Badrack Corporation. For the current year, the separate net incomes (excluding investment income) of Paint, Achille, and Badrack are $120,000, $100,000, and $50,000, respectively. The cost of each investment was equal to the book value of the investment, which was also equal to the fair value.


-Controlling interest share of consolidated net income for Paint Corporation and Subsidiaries is:

• A)$234,800.
• B)$244,800.
• C)$260,000.
• D)$270,000.

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