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Brady, Inc., a calendar-year corporation, acquires 75% of Austin Company on September 1, 2020, and...

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Accounting

Brady, Inc., a calendar-year corporation, acquires 75% of Austin Company on September 1, 2020, and an additional 10% on January 1, 2021. Total annual amortization of $8,000 relates to the first acquisition. Austin reports the following figures for 2021:

Revenues: 550000

Expenses: 425000

Retained earnings, 1/1/20:300000

dividend paid: 55 000

Common stock: 200000

Without regard for this investment, Brady independently earns $375,000 in net income during 2020

All net income is earned evenly throughout the year.

What is the controlling interest in consolidated net income for 2020?

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