Peta Corporation and Its Subsidiary Reported Consolidated Net Income of $320,000

question 11

Multiple Choice

Peta Corporation and its subsidiary reported consolidated net income of $320,000 for the year ended December 31,20X8.Peta owns 80 percent of the common shares of its subsidiary,acquired at book value.Noncontrolling interest was assigned income of $30,000 in the consolidated income statement for 20X8.What is the amount of separate operating income reported by Peta for the year?

• A)$170,000
• B)$150,000
• C)$120,000
• D)$200,000