Use the Following Information to Answer Question(s) Below

question 9

Multiple Choice

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

On January 1, 2014, Punch Corporation purchased 80% of the common stock of Soopy Co. Separate balance sheet data for the companies at the acquisition date (after the acquisition) are given below:

-What is the reported amount for the noncontrolling interest?

• A)$80,000
• B)$84,400
• C)$98,000
• D)$122,500

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