Norek Corp

question 116

Multiple Choice

Norek Corp. owned 70% of the voting common stock of Thelma Co. On January 2, 2010, Thelma sold a parcel of land to Norek. The land had a book value of $32,000 and was sold to Norek for $45,000. Thelma's reported net income for 2010 was $119,000. What is the non-controlling interest's share of Thelma's net income?

• A) $35,700.
• B) $31,800.
• C) $39,600.
• D) $22,200.
• E) $26,100.

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Definitions:

Sexual Harassment

Unwanted or inappropriate sexual advances, remarks, or actions, often creating a hostile or offensive environment.

Top Management Support

The guidance and backing provided by the highest levels of an organization's management, crucial for the success of projects and initiatives.

Filing Grievances

The formal process of lodging a complaint or dissatisfaction with a product, service, or situation within an organization.

Discrimination

Unjust or prejudicial treatment of different categories of people or things, especially on the grounds of race, age, or sex.