Primer Company acquired an 80% interest in SealCoat Company on January 1, 2013, for $450,000 cash when SealCoat Company had common stock of $250,000 and retained earnings of $250,000. All excess was attributable to plant assets with a 10-year life.
SealCoat Company made $50,000 in 2013 and paid no dividends. Primer Company's separate income in 2013 was $625,000. The controlling interest in consolidated net income for 2013 is:
a. $675,000.
b. $665,000.
c. $660,000.
d. $625,000.
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