Pink IncSells Half of Its 70% Interest in Salmon Co

question 33

Multiple Choice

Pink Inc.sells half of its 70% interest in Salmon Co.on January 1,20X6.On that date,the fair value of Salmon as a whole is $940,000 and the carrying amount of Pink's 70% share of Salmon is $320,000.What,if any,is the gain on the sale of half of Pink's interest in Salmon?

• A)$0
• B)$9,000
• C)$169,000
• D)$338,000

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