Business, 12.05.2021 01:00 miraclejones543

Angela, Inc., holds a 90 percent interest in Corby Company. During 2020, Corby sold inventory costing $108,800 to Angela for $128,000. Of this inventory, $55,400 worth was not sold to outsiders until 2021. During 2021, Corby sold inventory costing $161,250 to Angela for $215,000. A total of $53,400 of this inventory was not sold to outsiders until 2022. In 2021, Angela reported separate net income of $216,000 while Corby's net income was $125,000 after excess amortizations. What is the noncontrolling interest in the 2021 income of the subsidiary

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Angela, Inc., holds a 90 percent interest in Corby Company. During 2020, Corby sold inventory costin...

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