Orange Corporation owns 70 percent of the voting common shares of Mc.pdf

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Orange Corporation owns 70 percent of the voting common shares of McNichols Corporation, purchased at book value. Non controlling interest was assigned $21,000 of income in the 20X0 consolidated income statement. What amount of net income did McNichols Corporation report for the year? a) $70,000 b)$63,000 c)$30,000 d)$147,000 Solution a.70000.

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