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.
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