sample exame: FSA: peter Langer Case: VIE q16 equity, peter, adjust, reduce

Jolyn

if Sequoia is VIE, then N/I and B/S will be consolidated. I don’t get why reduce NI and equity by 30 gain.
I think it first need to consolidate both masson and squoio I/S and B/S,. then adjust it? Thanks.