Denber Co Acquired 60% of the Common Stock of Kailey Corp

question 79

Multiple Choice

Denber Co. acquired 60% of the common stock of Kailey Corp. on September 1, 2010. For 2010, Kailey reported revenues of $810,000 and expenses of $630,000, all reflected evenly throughout the year. The annual amount of amortization related to this acquisition was $15,000.
-What is the amount of net income to the controlling interest for 2010?

• A) $31,000.
• B) $33,000.
• C) $55,000.
• D) $60,000.
• E) $39,000.

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Definitions:

Distributive Justice

The ethical principle concerned with the fair allocation of resources among members of a community.

Social Egalitarian

Advocates for equal rights, opportunities, and treatment for all people in a society.

Libertarianism

A political philosophy that emphasizes freedom, autonomy, and voluntary association, with a significant focus on limiting the scope and authority of government.

Socially Responsible Activities

Actions by individuals or companies aimed at benefiting society or the environment, beyond what is required by law.