In the Consolidated Income Statement of Wattlebird Corporation and Its

question 12

Multiple Choice

In the consolidated income statement of Wattlebird Corporation and its 85% owned Forest subsidiary,the noncontrolling interest share was reported at $45,000.Assume the book value and fair value of Forest's net assets were equal at the acquisition date.What amount of net income did Forest have for the year?

• A)$52,941
• B)$38,250
• C)$235,000
• D)$300,000

---

Definitions:

Promotion

A marketing strategy used to increase awareness, interest, and sales of a product or service through various means such as advertising, sales, and public relations.

Customer Value

How a customer views the worth of a product or service relative to alternative choices.

Supply Chain

A system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer.

Relationship Marketing

A strategy designed to foster customer loyalty, interaction, and long-term engagement rather than focusing solely on short-term goals such as customer acquisition and sales.