Question: Extra credit work Looking at the Perito Moreno problem, how many preferred shares would the non- controlling interest have to own if it desired to
Extra credit work Looking at the Perito Moreno problem, how many preferred shares would the non- controlling interest have to own if it desired to receive a total of $360,000 from the Moreno's reported net income of $952,500? [6 extra credit points!!!] Perito Inc. owned 12,000 shares [60%] of the outstanding 5%, $240 par preferred stock and 68% of the outstanding common stock of Moreno Corp. When Moreno reported net income of $952,500, what was the non-controlling interest in the subsidiary's income? [3 points)
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