X-Beams Inc

question 119

Multiple Choice

X-Beams Inc. owned 70% of the voting common stock of Kent Corp. During 2013, 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:

Variable Substitution

In mathematics, this involves replacing variables with other variables or values to simplify expressions or solve equations.

Mathematical Expression

A combination of numbers, operations, and sometimes variables that represents a mathematical relationship or value.

Exponentiation

The mathematical operation involving the raising of a number to the power of another number.

Mathematical Expression

A combination of numbers, operations, and symbols forming a meaningful equation or inequality.