tome statement and is die Eron tal Y Canco Inc. owns 70% of Supersonics and consolidates...

 

Transcribed Image Text:

tome statement and is die Eron tal Y Canco Inc. owns 70% of Supersonics and consolidates this subsidiary. In 2012, Supersonics earned $100,000 after tax and Canço carned $1,000,000. Without consideration of minority interests, the stockholders equity of Supersonics at the end of 2012 was $1,200,000, Required: Determine the minority share of earnings in 2012. 18os000x Soll- 1 Su003 b. Determine the consolidated net income. Determine the minority interest at the end of 2012 on the balance sheet. eos03/1310 d. How should minority interest be classified on the balance sheet for analysis? Cans tome statement and is die Eron tal Y Canco Inc. owns 70% of Supersonics and consolidates this subsidiary. In 2012, Supersonics earned $100,000 after tax and Canço carned $1,000,000. Without consideration of minority interests, the stockholders equity of Supersonics at the end of 2012 was $1,200,000, Required: Determine the minority share of earnings in 2012. 18os000x Soll- 1 Su003 b. Determine the consolidated net income. Determine the minority interest at the end of 2012 on the balance sheet. eos03/1310 d. How should minority interest be classified on the balance sheet for analysis? Cans

Answer rating: 100% (QA)

Given Canco Inc owns 70 of Supersonics and consolidates this subsidiary In 2012 Supersonics earned 100000 after tax Canco earned 1000000 in 2012 Witho... View the full answer