Business, 07.04.2020 20:31, teddylove2643

"X-Beams Inc. owned 70% of the voting common stock of Kent Corp. During 2018, Kent made several sales of inventory to X-Beams. The total selling price was $180,000 and the cost was $100,000. At the end of the year, 20% of the goods were still in X-Beams' inventory. Kent's reported net income was $300,000. Assuming there are no excess amortizations associated with the consolidation, and no other intra-entity asset transfers, what was the net income attributable to the noncontrolling interest in Kent

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"X-Beams Inc. owned 70% of the voting common stock of Kent Corp. During 2018, Kent made several sale...