On january 1, 2012, chamberlain corporation pays $388,000 for a 60 percent ownership in neville. annual excess fair-value amortization of 815,000 results from the acquisition. on december 31, 2013, neville reports revenues of $400,000and expenses of $300,000 and chamberlain reports revenues of $700,000 and expenses of $400,000. the parent figurescontain no income from the subsidiary. what is consofidated net income attributable to the controlling interest? a. $231,000.b. $351,000.c $366,000.d. $400,000.

b. $351,000

Explanation:

Net income for Chamberlain Corporation = $700,000 - $400,000

                                                                     = $300,000

Net income for Neville = $400,000 - $300,000 - $15000

                                      = $85000

Chamberlain Corporation share of Neville net income = 85000*0.60

                                                                                          = $51000

The consolidated net income attributable to the controlling interest

= $300,000 + 51000

= $351000

Therefore, The consofidated net income attributable to the controlling interest is $351000.

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the answer is account d