A subsidiary purchased bonds of its parent company from a nonaffiliate in the preceding period, and a gain on bond retirement was reported in the consolidated income statement as a result of the purchase What effect will that event have on the amount of consolidated net income and income to the non...

A gain on constructive bond retirement recorded in a pri ...

A subsidiary purchased bonds of its parent company from a nonaffiliate in the preceding period, and a

Question:

A subsidiary purchased bonds of its parent company from a nonaffiliate in the preceding period, and a gain on bond retirement was reported in the as a result of the purchase. What effect will that event have on the amount of consolidated net income and income to the noncontrolling interest reported in the current period?

Consolidated Income Statement
When talking about the group financial statements the consolidated financial statements include Consolidated Income Statement that a parent must prepare among other sets of consolidated financial statements. Consolidated Income statement that is...