Jull Corp Owned 80% of Solaver Co

question 41

Essay

Jull Corp. owned 80% of Solaver Co. Solaver paid $250,000 for 10% of Jull's common stock. In 2011, Jull and Solaver reported operating income (not including income from the investment) of $300,000 and $80,000, respectively. Jull and Solaver paid dividends of $120,000 and $50,000, respectively.
-Required:
Under the treasury stock approach, what is the noncontrolling interest in Solaver Co.'s net income?

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Definitions:

Water

A colorless, tasteless, and odorless substance in its pure form, essential for all known forms of life, and used for drinking, cleaning, and numerous industrial processes.

Incentives

Factors that motivate individuals or businesses to act in a certain way, often used to encourage productivity and economic efficiency.

Renewable Resources

Those that are renewed in nature, like water flows, or grown, like timber.

Renewed

Pertains to something that has been restored, refreshed, or made new again.