Paice Corporation Owns 80% of the Voting Common Stock of Accardi

question 23

Essay

Paice Corporation owns 80% of the voting common stock of Accardi Corporation. Paice owns 60% of the voting common stock of Badger Corporation. Accardi owns 20% of the voting common stock of Badger. There are no cost/book value/fair value differentials to consider. The separate net incomes (excluding investment income) of these affiliated companies for 2014 are:
Required:
Calculate controlling interest share of consolidated net income and noncontrolling interest shares for Paice Corporation and Subsidiaries for 2014.

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Definitions:

Percent

A unit of proportion or ratio expressed as a fraction of 100, often used to quantify relative change or differences.

Inequality

The unequal distribution of resources, opportunities, and rights among people in a society, often leading to social and economic disparities.

Rich

Having a great deal of money, resources, or assets; wealth.

Poor Countries

Nations with low levels of socioeconomic development, characterized by low incomes, high poverty rates, and limited access to basics.