Sweety's Net Income and Dividends for 2021 and 2022 are shown below. 2021 2022 Net Income $660,000 $720,000 Dividends $350,000 $400,000 Sweety Inc's retained earnings on December 31, 2022 were $3,430,000. Pretty Inc's separate company net income was $887,000 for 2022 and its separate company retained earnings on December 31, 2022 were $6,820,000. There have been no changes to the share capital of Sweety Inc. since the acquisition. Both companies are subject to a tax rate of 40%. Required: 3. Calculate the net income attributed to both the shareholders of Pretty Inc. and to the non-controlling interest shareholders of Sweety Inc. for 2022.

Answer rating: 100% (QA)

Net Income Attribution for 2022 Understanding the Scenario Pretty Inc acquired Sweety Inc and owns a ... View the full answer