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What is the consolidated net income to be assigned

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Question - Maya purchased inventory from Koto Corporation for P120,000 on September 20, 20x8, and resold 80% of the inventory to unaffiliated companies prior to December 31, 20x8 for P140,000. Koto produced the inventory sold to Maya for P75,000. Maya owns 70% of Koto's voting ordinary shares. The companies had no other transactions during 20x8. What is the consolidated net income to be assigned to the controlling interest?

Reference no: EM133188266

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