Pigeon Corporation acquired a 60% interest in Home Company on
January 1, 2017, for $72,000 cash when Home had Captial Stock of
$60,000 and Retained Earnings of $40,000. All excess purchase cost
was attributable to equipment wit a 10-year (straight-line) life.
Home suffered a $10,000 net loss in 2017 and paid no dividends. At
year-end 2005, Home owed Pigeon ,000 on account. Pigeon’s
separate income for 2017 was $150,000. Consolidated net income for
2017 was

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Question: Pigeon Corporation acquired a 60% interest in Home Company on January 1, 2017, for $72,000 cash w…
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a. $135,800

b. $136,800

c. $142,800

d. $143,000

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