On January 1, 20X6, Joseph Company Acquired 80% of Salt

Multiple Choice

On January 1, 20X6, Joseph Company acquired 80% of Salt Company's outstanding stock for cash. The fair value of the noncontrolling interest was equal to a proportionate share of the book value of Salt Company's net assets at the date of acquisition. Selected balance sheet data at December 31, 20X6 are as follows:

-Based on the preceding information,what amount should be reported as noncontrolling interest in net assets in Joseph Company's December 31,20X6,consolidated balance sheet?

A) $35,200
B) $48,200
C) $76,800
D) $112,800