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What amount of net income did the subsidiary have?

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In the consolidated income statement of Croton Corp and its 84%-owned subsidiary, the minority interest income was reported at $33,680. What amount of net income did the subsidiary have for the year?

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Solution Summary

The solution explains how the minority interest was calculated. The amount of net income the subsidiary has is determined.

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Croton reports on a consolidated basis because they own over 50%. The whole of the ...

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