On January 1, 2014, Polar Company, which owns an 80% interest in Superior Company, sold Superior Company
Question:
Polar Company reported net income from its independent operations (including sales to affiliates) of $400,000, and Superior Company reported net income of $200,000 from its independent operations in 2014 and 2015.
Required:
Calculate the controlling interest in consolidated net income for the years ended December 31, 2014, and December 31, 2015.
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