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MC Qu.05-77 On January 1, Year 6,... On January 1, Year 6, AB...

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Accounting

MC Qu.05-77 On January 1, Year 6,...
On January 1, Year 6, AB inc, purchased 80 percent of the common shares of CD Corp, for $1,400,000. On the date of acquisition, CD's shareholders' equity was as follows:
Common shares $600,000
Retained earnings $608,000
Any acquisition differential was allocated to goodwill. During Year 6, CD earned a net income of $400,000 and paid dividends of $300,000. On December 31, Year 6. a goodwill impairment loss of $30,000 was recorded.
What is consolidated net income attributable to the non-controlling interest on the consolicated income statement for the year ended December 3t. Year 6?
Multiple Choice
$74,000
$80,000
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