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What the consolidated net income for the fiscal year was

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Question 1: GREEN Co. has a 75% interest in LIME, Inc., which is recorded on a cost basis. For the fiscal year ended June 30, 2016, the following data were taken from the respective books: Net income of GREEN Co. was P 125,000 while net income of LIME, Inc. was P 45,000. There was an intercompany interest on bonds in the amount of P 5,700. LIME, Inc. declared and paid dividend in the amount of P 9,000. The consolidated net income for the fiscal year was:

Reference no: EM132674407

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