Question: Use the following information to answer the question (8, 9, 10) below. Paiva Corporation owns 80% of Ackroyd Corporation's outstanding common stock and Ackroyd

Use the following information to answer the question (8, 9, 10) below.

Use the following information to answer the question (8, 9, 10) below. Paiva Corporation owns 80% of Ackroyd Corporation's outstanding common stock and Ackroyd owns 80% of the outstanding common stock of Bailey Corporation. Bailey Corporation owns 10% of the outstanding common stock of Ackroyd Corporation. The cost of the investments was equal to book value and there were not fair value/book value differences for the investments. The separate net incomes for the three affiliated companies for the year ended December 31, 2014 (excluding investment income) are as follows: Paiva Corporation, $100,000, Ackroyd Corporation, $50,000, and Bailey Corporation, $30,000. Use the conventional approach. Symbols used: P = Income of Paiva on a consolidated basis A = Income of Ackroyd on a consolidated basis B = Income of Bailey on a consolidated basis The equation, in a set of simultaneous equations, that computes Paiva Corporation income on a consolidated basis is P = $50,000+ 0.8B. P = $30,000+ 0.2A. P = $100,000+ 0.2A. P = $100,000+ 0.8A. Question 9 Ackroyd's noncontrolling interest share for 2014 is $7,609. $8,044. $15,652. $23,696. Question 10 Bailey's noncontrolling interest share for 2014 is $7,609. $8,044. $15,652. $23,696. 1 pts 1 pts

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