Asset Purchase: 51% of Company A for $50 Million, what will be the accounting company, impact, income, balance, accounting

creativeyi2

M&A Question

 

Let us say that company B purchased 51% of Company A for $50 Million, what will be the accounting treatment on company B's financial statement? Especially to the income statement?

 

I am certain about the impact to company's balance sheet. I am 60% sure that no impact to income statement, but will like to be assured by an expert, perferably in accounting.

 

Thanks