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Presented below are certain account balances of Bonita Products Co
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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