Essay
On January 1,2014 Paki Inc.bought 75% interest in Adam Corporation.At the time of purchase,Adam owned 80% of Baird Company.In all acquisitions,the book value equals the fair value,which equals the acquisition cost.Separate earnings (loss)(excluding investment income)for the three affiliates for 2014 are as follows: 
Required:
Compute controlling interest share of consolidated net income and noncontrolling interest shares for Paki and affiliates for 2014.
Correct Answer:
Verified
Correct Answer:
Verified
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