Hardford Corp

Multiple Choice

Hardford Corp. held 80% of Inglestone Inc., which, in turn, owned 80% of Jade Co. Excess amortization expense was not required by any of these acquisitions. Separate net income figures (without investment income) as well as upstream intra-entity gross profits (before deferral) included in the income for the current year follow: The net income attributable to the noncontrolling interest of Inglestone Inc. is calculated to be

A) $106,950.
B) $102,640.
C) $114,530.
D) $106,960.
E) $103,680.