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Presented below are certain account balances of Bonita Products Co

Accounting Sep 14, 2020

Presented below are certain account balances of Bonita Products Co.

Rent revenue$7,160

Sales discounts$7,980

Interest expense12,750

Selling expenses99,680

Beginning retained earnings114,770

Sales revenue400,400

Ending retained earnings134,700

Income tax expense27,111

Dividend revenue71,700

Cost of goods sold170,364

Sales returns and allowances12,780

Administrative expenses78,930

Allocation to noncontrolling interest 18,280

From the foregoing, compute the following: (a) total net revenue, (b) net income, (c) income attributable to controlling stockholders, if Bonita has allocation to noncontrolling interest of $18,280.

(a)Total net revenue$

(b)Net income$

(c)Income attributable to controlling stockholders

Expert Solution

a). Total net revenue = $458,500

b). Net income = $69,665

c). Income attributable to controlling stockholder's = $51,385

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