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West Corp. owned 70% of the voting common stock of East Co. East owned 60% of Compass Co. West and East both used the initial value method to account for their investments. The following information was available from the financial statements and records of the three companies:
west corp. east co. compass co.
operating income (loss) 860000 600000 120000
Amount if dividends paid 200000 150000 60000
unrealized intra-entity gains 96000 70000 15000
Amortization expense related
to excess fair value
over book value of investment 30000 20000
Operating income included unrealized intra-entity gains (which are related to inventory transfers) but did not include dividend income from investment in subsidiary. For West Corp. and consolidated subsidiaries, what total amount would have been reported for the non-controlling interest’s share of subsidiaries’ net income?
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