Quezon 15 Partly correct Mark 2.00 out of 30.00 Frag question Sale Consolidated Income Statement, Intercompany Transactions Condensed Income statements for Pon and its 80 percent owned subsidiary, Star appear below. Condensed Income Statements Pon Star $9,000,000 $4,000,000 Equity in net income of Star 439.000 Cost of goods sold 16,000,000) (2,500,000) Other expenses 02.000.000 1600,000) Net income 51,439.000 5900,000 Intercompany sales are $1,500,000. Unconfirmed intercompany profit in Port's beginning inventory is $100,000, and unconfirmed intercompany profit in Pon's ending inventory is $120,000. Unconfirmed intercompany profit in Star's beginning inventory is $90,000, and unconfirmed intercompany profit in Star's ending inwentory is $50,000. At the date of combination four years ago, previously unrecorded identifiable intangibles (8-year life, straight line) of $800,000 were recognized. Because the acquisition cost included a control premium total goodwill recognized at the date of acquisition is shared with the noncontrolling interest in a 90:10 ratio. This year's goodwill impairment loss is $250,000 Required a. Prepare a schedule to compute Pon's equity in net income and the noncontrolling interest in net income. Use negative signs with answers that reduce net income amounts. Enter answers using all zeros (do not abbreviate to millions or thousands support 10:31 AM 12/2000 LIL Settings Bookt Docum how to O Search for anything be >