Big Corporation receives management consulting services from its 92 percent owned subsidiary,Small Inc.During 2007,Big paid Small $125,432 for its services.For the year 2008,Small billed Big $140,000 for such services and collected all but $7,900 by year-end.Small's labor cost and other associated costs for the employees providing services to Big totaled $86,000 in 2007 and $121,000 in 2008.Big reported $2,567,000 of income from its own separate operations for 2008,and Small 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 2008?

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The Answer of Big Corporation receives management consulting services from its 92 percent owned subsidiary,Small Inc.During 2007,Big paid Small $125,432 for its services.For the year 2008,Small billed Big $140,000 for such services and collected all but $7,900 by year-end.Small's labor cost and other associated costs for the employees providing services to Big totaled $86,000 in 2007 and $121,000 in 2008.Big reported $2,567,000 of income from its own separate operations for 2008,and Small 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 2008?

Big Corporation Receives Management Consulting Services from Its 92 Percent