Answer:
Explanation:
The noncontrolling interest's share of the earnings of Harbor Corp. for 2019
= ($2,500,000 - $2,000,000- $60,000) * 0.3 = 440,000*0.3 = $132,000
Amount of consolidated net income for 2019 should be allocated to Femur’s controlling interest in Harbor
= $440,000 - $132,000 = $308,000
Amount Femur Co. would report as consolidated net income for 2019:
= $(4,500,000-3,000,000) + $308,000 = $1,500,000 + $308,000 = $1,808,000
