Pinta Company acquired an 80% interest in Strummer Company on January 1, 2013, for $270,000 cash when Strummer Company had common stock of $150,000 and retained earnings of $150,000.
All excess was attributable to plant assets with a 10-year life. Strummer Company made $30,000 in 2013 and paid no dividends. Pinta Company's separate income in 2013 was $375,000.
Controlling interest in consolidated net income for 2013 is:
a. $405,000.
b. $399,000.
c. $396,000.
d. $375,000.
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