Hambly Corp

question 17

Essay

Hambly Corp. owned 80% of the voting common stock of Stroban Co. During 2011, Stroban sold a parcel of land to Hambly. The land had a book value of $82,000 and was sold to Hambly for $145,000. Stroban's reported net income for 2011 was $119,000.
Required:
What was the non-controlling interest's share of Stroban Co.'s net income?

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Definitions:

Behavioral Targeting

A marketing strategy that uses individuals' behavior and preferences to tailor advertisements and content.

Opt-In Email

A type of email marketing where recipients have voluntarily chosen to receive emails from a sender, indicating their consent and interest.

Bait And Switch

A deceptive marketing strategy where a customer is attracted by the advertisement of a low-priced item but then is encouraged to buy a more expensive one.

Permission Marketing

A marketing strategy where businesses send promotional messages only to individuals who have consented to receive them.