What amount of consolidated net income allocated

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Question - Reddong Co. acquired 80% of the voting common stock of Saki-Saki Corp. on January 1, 2022. During 2022, Saki-Saki had revenues of $2,700,000 and expenses of $2,100,000. The amortization of fair value allocations totaled $65,000 in 2022. Not including its investment in Saki-Saki, Reddong Co. had its own revenues of $4,800,000 and expenses of $3,600,000 for the year 2022. What amount of consolidated net income for 2022 should be allocated to Reddong's controlling interest in Saki-Saki?

A) $1,200,000

B) $1,388,000

C) $1,440,000

D) $1,492,000

E) $1,628,000

Reference no: EM133047907

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