On January 1,20X8,Package Company Acquired 80 Percent of Stamp Company's

Multiple Choice

On January 1,20X8,Package Company acquired 80 percent of Stamp Company's common stock for $280,000 cash.At that date,Stamp reported common stock outstanding of $200,000 and retained earnings of $100,000,and the fair value of the noncontrolling interest was $70,000.The book values and fair values of Stamp's assets and liabilities were equal,except for other intangible assets which had a fair value $50,000 greater than book value and an 8-year remaining life.Stamp reported the following data for 20X8 and 20X9:
Package reported net income of $100,000 and paid dividends of $30,000 for both the years.
-Based on the preceding information,what is the amount of consolidated comprehensive income reported for 20X8?

A) $125,000
B) $123,750
C) $118,750
D) $130,000