What amount of consolidated net income will x corporation

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Reference no: EM133328258

Case: X Corporation owns 80 percent of Y Corporation's common stock and 40 percent of Z Corporation's common stock. Additionally, Y Corporation owns 35 percent of Z Corporation's common stock. The acquisitions were made at book values. The following information is available for 20X8:

X Y Z
Operating Income $100,000 $50,000 $25,000

Dividends declared 30,000 20,000 10,000

Based on the information provided, what amount of consolidated net income will X Corporation report for 20X8?

Reference no: EM133328258

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