Olive Petroleum Corporation holds a 60% stake in Cedar Energies Corporation. On January 1, 20X1, Cedar issued $150,000 of 6% preferred stock at par. Olive did not purchase any of Cedar's preferred stock? For the year 20X1, Cedar reported net income of $100,000?Calculate the net income of Cedar Energies attributable to the NCI?

Answer rating: 100% (QA)

The net income of Cedar Energies Corporation for the year 20X1 is 100000 As Olive Petr... View the full answer