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Angela, Inc., holds a 90 percent interest in Corby Company. During 2017, Corby sold inventory costing $128,100 to Angela for $183,000. Of this inventory $54,000
Angela, Inc., holds a 90 percent interest in Corby Company. During 2017, Corby sold inventory costing $128,100 to Angela for $183,000. Of this inventory $54,000 worth was not sold to outsiders until 2018. During 2018, Corby sold inventory costing $81,000 to Angela for $135,000. A total of $53,000 of this inventory was not sold to outsiders until 2019. In 2018, Angela reported separate net income of $211,000 while Corby's net income was $115,500 after excess amortizations. What is the noncontrolling interest in the 2018 income of the subsidiary? Multiple Choice $11,450. $11,580 $11,050. $11,550
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