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How much is controlling interest in consolidated net income

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Question - Black Corporation acquired 80% interest in White Company on January 1, 20x8, for P90,000 cash when White had capital stock of P60,000 and retained earnings of P40,000. All excess purchase cost was attributable to equipment with a 10-year (straight line) life. White suffered a P10,000 net loss in 20x8 and paid no dividends. At year-end 20x8, White owed Black P12,000 on account. Black's separate income for 20x8 was P150,000. How much is the controlling interest in consolidated net income for 20x8?

Reference no: EM132783965

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