Frey LtdAcquired 70% of Sabo Ltd

Multiple Choice

Frey Ltd.acquired 70% of Sabo Ltd.several years ago.On January 1,20X8,Frey reduced its holding in Sabo by 10%.The shares were sold for $160,000.At December 31,20X7,under the entity method,the balance of Frey's share of Sabo's net assets was $84,000.What adjustment should be made to the consolidated shareholders' equity to reflect Frey's reduction in interest in Sabo to 60%?

A) $76,000
B) $84,000
C) $148,000
D) $160,000