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On January 1, Year 6, AB Inc. purchased 80 percent of the common...

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Accounting

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, CDs 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 consolidated income statement for the year ended December 31, Year 6?
Multiple Choice:
a) $80,000
b) $60,000
c) $74,000
d) $20,000

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