On January 1, 2014, Chamberlain Corporation pays $532,000 for a 60 percent ownership in Neville....
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On January 1, 2014, Chamberlain Corporation pays $532,000 for a 60 percent ownership in Neville. Annual excess fair-value amortization of $19,000 results from the acquisition. On December 31, 2015, Neville reports revenues of $471,000 and expenses of $331,000 and Chamberlain reports revenues of $778,000 and expenses of $466,000. The parent figures contain no income from the subsidiary. What is consolidated net income attributable to the Chamberlain Corporation?
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