Paper Corporation holds 80 percent of the voting shares of Scissor Company. On January 1, 20X8, Scissor purchased $100,000 par value 12 percent first mortgage bonds of Paper from Cruse for $115,000. Paper originally issued the bonds to Cruse on January 1, 20X6, for $110,000. The bonds have an 8-year maturity from the date of issue. Scissor's reported net income of $65,000 for 20X8, and Paper reported income (excluding income from ownership of Scissor's stock) of $90,000.Based on the information given above, what amount of consolidated net income should be reported for 20X8?
A. $163,750
B. $148,750
C. $146,250
D. $161,250
Answer: B
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C. 0
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Give two reasons for using multiple interviewers?
What will be an ideal response?
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