On January 3,2009,Redding Company acquired 80 percent of Frazer Corporation's common stock for $344,000 in cash.At the acquisition date,the book values and fair values of Frazer's assets and liabilities were equal,and the fair value of the noncontrolling interest was equal to 20 percent of the total book value of Frazer.The stockholders' equity accounts of the two companies at the acquisition date are:
Noncontrolling interest was assigned income of $11,000 in Redding's consolidated income statement for 2009.
-Based on the preceding information,what will be the amount of net income reported by Frazer Corporation in 2009?
Definitions:
Psychodynamic Approach
A psychological perspective that emphasizes the systematic study of the psychological forces that underlie human behavior, feelings, and emotions and how they might relate to early experience.
Big Five
The Big Five refers to the five broad personality traits used to describe human personality, including openness, conscientiousness, extraversion, agreeableness, and neuroticism.
Consciousness Levels
The degrees of awareness or alertness, ranging from full awareness to deep sleep, including various states of consciousness in between.
Information Type
The categorization of information based on its nature, source, or the manner in which it is processed.
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