Paste Corporation owns 70 percent of Stick Corporationâs voting common stock. On the date of acquisition, Stickâs fair value equaled its book value. On March 12, 20X2, Stick sold land it had purchased for $140,000 to Paste for $190,000. Paste plans to build a new warehouse on the property in 20X3.Paste has $500,000 of separate company net income for 20X2. This does not include any equity income from Stick. Stick has $300,000 of separate company net income.1. What will be reported as consolidated net income on the 20X2 income statement?2. What is 20X2 net income attributable to the noncontrolling interest?Now assume that Paste made the sale to Stick. Assume the same separate net incomes as above.3. What is 20X2 net income attributable to the noncontrolling interest?

R& m chatelaine is one of the largest tax-preparation firms in the united states. it wants to acquire the tax experts, a smaller rival. after the merger, chatelaine will be one of the two largest income-tax preparers in the u.s. market. what should chatelaine include in its acquisition plans? it should refocus its attention from the national to the international market. in addition to acquiring the tax experts, it should also determine the best way to drive independent "mom and pop" tax preparers out of business. chatelaine will need to explain to the federal trade commission how the acquisition will not result in an increase in prices for consumers. chatelaine should enter a price-based competition with its other major competitor to force it out of business and become a monopoly.