Postage Corporation receives management consulting services from its 92 percent-owned subsidiary,Stamp Inc.During 20X7,Postage paid Stamp $125,432 for its services.For the year 20X8,Stamp billed Postage $140,000 for such services and collected all but $7,900 by year-end.Stamp's labor cost and other associated costs for the employees providing services to Postage totaled $86,000 in 20X7 and $121,000 in 20X8.Postage reported $2,567,000 of income from its own separate operations for 20X8,and Stamp reported net income of $695,000.
-Based on the preceding information,what amount of income should be assigned to the noncontrolling shareholders in the consolidated income statement for 20X8?

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The Answer of Postage Corporation receives management consulting services from its 92 percent-owned subsidiary,Stamp Inc.During 20X7,Postage paid Stamp $125,432 for its services.For the year 20X8,Stamp billed Postage $140,000 for such services and collected all but $7,900 by year-end.Stamp's labor cost and other associated costs for the employees providing services to Postage totaled $86,000 in 20X7 and $121,000 in 20X8.Postage reported $2,567,000 of income from its own separate operations for 20X8,and Stamp reported net income of $695,000.
-Based on the preceding information,what amount of income should be assigned to the noncontrolling shareholders in the consolidated income statement for 20X8?

Postage Corporation Receives Management Consulting Services from Its 92 Percent-Owned