Big Company purchased 60% of the voting stock of Small Company in 2023. On 12/31/24 Small sold

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Big Company purchased 60% of the voting stock of Small Company in 2023. On 12/31/24 Small sold equipment to Big for $40,000. The equipment had a book value at that time of $30,000, and 4 year remaining useful life (through 12/31/28). Little reported earnings of $50,000 in both 2024 and 2025. The NCI in NI of Little for 2024 would be , and the NCI in NI of Little for 2025 would be (answer in form xx,xxx; no decimal, no dollar sign)

Posted Date: May 18, 2024 09:15 AM

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Big Company purchased 60% of the voting stock of Small Company in 2023. On 12/31/24 Small sold

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