Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik

Exercise 16

Note: Problems 1 through 37 assume the use of the acquisition method.Problems 38 through 40 assume the use of the purchase method. On January 1, 2011, Chamberlain Corporation pays $388,000 for a 60 percent ownership in Neville.Annual excess fair-value amortization of $15,000 results from the acquisition.On December 31, 2012, Neville reports revenues of $400,000 and expenses of $300,000 and Chamberlain reports revenues of $700,000 and expenses of $400,000.The parent figures contain no income from the subsidiary.What is consolidated net income attributable to the controlling interest
A)$231,000.
B)$351,000.
C)$366,000.
D)$400,000.