Swift Parrot Corporation acquired a 60% interest in Berries Corp. on January 1, 2005, when Berries's book
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Question:
Swift Parrot Corporation acquired a 60% interest in Berries Corp. on January 1, 2005, when Berries's book values and fair values were equivalent. On January 1, 2005, Berries sold a building with a book value of $600,000 to Swift Parrot for $700,000. The building had a remaining life of 10 years, no salvage value, and was depreciated by the straight-line method. Berries reported net income of $2,000,000 for 2005. What was the non-controlling interest in net income for 2005?
a. $710,000.
b. $764,000.
c. $800,000.
d. $900,000.
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