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:

-Compute Chase's attributed ownership in Ross.

A) 40.0%.
B) 64.0%.
C) 24.0%.
D) 32.0%.
E) 12.8%.