Clark Corp. owned 75% of the voting common stock of Andrew Co. On January 3,...
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Clark Corp. owned 75% of the voting common stock of Andrew Co. On January 3, 2020, Andrew sold a parcel of land to Clark. The land had a book value of $36,000 and was sold to Clark for $55,000. Andrews reported net income for 2020 was $125,000. Assuming there are no excess amortizations associated with the consolidation, and no other intra-entity asset transfers, what is net income attributable to the noncontrolling interest?
Select one:
a. $26,750.
b. $35,750.
c. $26,500.
d. $16,750.
e. $27,750.
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