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 the net income attributable to the noncontrolling interest in Ross for 2018.

A) $92,000.
B) $77,400.
C) $75,000.
D) $64,500.
E) $69,000.