Lowell owns 80% of Boston. At the end of the year when Lowell consolidates with Boston, which of the following statement is true?
Multiple Choice
Parent company net income equals consolidated net income.
Total Equity equals parent's stockholders' equity.
Parent company total assets equals consolidated total assets.
Parent company's reported net income equals consolidated net income minus consolidated net income attributable to NCI.
Goodwill is recorded on the parents books
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