Pinta company acquired an 80% interest in strummer company on january 1, 2013, for $270,000 cash when strummer company had common stock of $150,000 and retained earnings of $150,000.
all excess was attributable to plant assets with a 10-year life. strummer company made $30,000 in 2013 and paid no dividends. pinta company's separate income in 2013 was $375,000.

controlling interest in consolidated net income for 2013 is:

a. $405,000.

b. $399,000.

c. $396,000.

d. $375,000.

According to the map, which continent has the most countries with a low gdp level? which two countries have the highest gdp level?

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Lusk corporation produces and sells 14,300 units of product x each month. the selling price of product x is $25 per unit, and variable expenses are $19 per unit. a study has been made concerning whether product x should be discontinued. the study shows that $72,000 of the $102,000 in monthly fixed expenses charged to product x would not be avoidable even if the product was discontinued. if product x is discontinued, the annual financial advantage (disadvantage) for the company of eliminating this product should be: