X-Beams Inc

question 81

Multiple Choice

X-Beams Inc. owned 70% of the voting common stock of Kent Corp. During 2011, 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. What was the non-controlling interest in Kent's net income?

• A) $90,000.
• B) $85,200.
• C) $54,000.
• D) $94,800.
• E) $86,640.

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Definitions:

Hazan and Shaver

Researchers known for their work on attachment theory in adult relationships, suggesting patterns of attachment in adulthood can be traced back to early relationships with caregivers.

Infancy

The period of human development from birth to approximately 2 years of age, characterized by rapid growth and development.

Affective

Relating to moods, feelings, and attitudes; the emotional aspect of the mind's function.

Attitude

A settled way of thinking or feeling about someone or something, typically reflected in a person's behavior.