Reference no: EM132470906

Point 1: On January 1, 2014, Pert Company purchased 85% of the outstanding common stock of Sales Company for $368,200. On that date, Sales Company's stockholders' equity consisted of common stock, $94,400; other contributed capital, $41,000; and retained earnings, $150,800. Pert Company paid more than the book value of net assets acquired because the recorded cost of Sales Company's land was significantly less than its fair value.

Point 2: During 2014 Sales Company earned $152,200 and declared and paid a $48,800 dividend. Pert Company used the partial equity method to record its investment in Sales Company.

Point 3: Assume that during 2015 Sales Company earned $177,300 and declared and paid a $48,800 dividend.

Question 1: Calculating the Reained Earnings-S Investment in Subdiary and non-contrilling interest.