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:

Children Under 18

Individuals who are in the age group that legally categorizes them as minors in most jurisdictions.

Poverty Rate

The percentage of the population that lives below the nation's official poverty line, indicating the proportion of people living in poverty.

Conservatives

Individuals or political groups favoring traditional views and values, often resistant to change and advocating for the preservation of heritage and established practices.

Liberals

Generally refers to individuals or political groups advocating for policies that emphasize freedom, democracy, and equality in social and economic spheres.