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Pepper acquired 90% of Salt at January 1, 2011. Pepper has a December 31st year end. At acquisition, the implied value of Salt was higher than its book value. The difference was allocated as follows
with a 5 year useful life and zero salvage value
all sold during 2011
45. Salt’s reported net income of $310,000 during 2011 to Pepper. What was the income attributable to the non-controlling interest in consolidation?
46. In 2012, the total amount of the adjustments to Salt’s net income based on the differences at acquisition would