Jull Corp. owned 80% of Solaver Co. Solaver paid $250,000 for 10% of Jull's common stock. In 2018, Jull and Solaver reported separate net incomes (not including income from the investment) of $300,000 and $80,000, respectively. Jull and Solaver declared dividends of $120,000 and $50,000, respectively.Required:Under the treasury stock approach, what is Jull's net income attributable to the controlling interest in Solaver Co..?
What will be an ideal response?
| Net income Jull Corp. | $ | 300,000 | |||||
| Net income Solaver Corp. not including dividends | 80,000 | ||||||
| Consolidated net income | $ | 380,000 | |||||
| Net income of Solaver Corp. not including dividends | $ | 80,000 | |||||
| Dividends from Jull Corp. | 12,000 | ||||||
| 92,000 | |||||||
| Net income attributable to the noncontrolling interest | 20 | % | (18,400 | ) | |||
| Net income attributable to the controlling interest | $ | 361,600 | |||||
Business
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