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Priscilla Inc. owned 70% of the voting common stock of Hutchins Corp. During 2021, Hutchins made several sales of invent
Posted: Wed May 04, 2022 4:38 pm
by answerhappygod
- Priscilla Inc Owned 70 Of The Voting Common Stock Of Hutchins Corp During 2021 Hutchins Made Several Sales Of Invent 1 (24.84 KiB) Viewed 41 times
Priscilla Inc. owned 70% of the voting common stock of Hutchins Corp. During 2021, Hutchins made several sales of inventory to Priscilla. The total selling price was $190,000 and the cost was $105,000. At the end of the year, 40% of the goods were still in Priscilla's inventory. Hutchins's reported net income was $320,000. 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 Hutchins? OA $47,000. OB. $58,900, OC $64,000. OD. $85,800. OE $96,000.