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What is the non-controlling interest share of cassandra

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Problem 1: Razel Corp. acquired a 70% interest in Cassandra Co. in 2018. For the year ended December 31, 2018 and 2019, Cassandra company reported net income of P320,000 and P360,000, respectively. During 2018, Cassandra sold merchandise to Razel for P40,000 at a profit of P8,000. The merchandise was later resold by Razel corp. to outsider for P60,000 during 2019. For consolidation purposes, what is the non-controlling interest's share of Cassandra's net income for 2018?

Reference no: EM132756612

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