Multiple Choice
Clark Corp. owned 75% of the voting common stock of Andrew Co. On January 3, 2020, Andrew sold a parcel of land to Clark. The land had a book value of $36,000 and was sold to Clark for $52,000. Andrew's reported net income for 2020 was $123,000. Assuming there are no excess amortizations associated with the consolidation, and no other intra-entity asset transfers, what is net income attributable to the noncontrolling interest?
A) $14,750.
B) $26,750.
C) $27,750.
D) $30,750.
E) $34,750.
Correct Answer:
Verified
Correct Answer:
Verified
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