Paul Corporation owns 70 percent of the voting common shares of Sally Corporation,purchased at book value.Noncontrolling interest was assigned $21,000 of income in the 20X0 consolidated income statement.What amount of net income did Sally Corporation report for the year?
A)$70,000
B)$63,000
C)$30,000
D)$147,000

Question

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The Answer of Paul Corporation owns 70 percent of the voting common shares of Sally Corporation,purchased at book value.Noncontrolling interest was assigned $21,000 of income in the 20X0 consolidated income statement.What amount of net income did Sally Corporation report for the year?
A)$70,000
B)$63,000
C)$30,000
D)$147,000

Paul Corporation Owns 70 Percent of the Voting Common Shares