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if stain reports net income of $90,000 for 20X2 what amount is assigned to be the noncontrolling interest in 20X2 consolidated income statement Paint Corporation

if stain reports net income of $90,000 for 20X2 what amount is assigned to be the noncontrolling interest in 20X2 consolidated income statement

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Paint Corporation owns 60 percent of Stain Company's shares. Partial 202 financial data for the companies and consolidated entity were as follows: Paint Corporation Stain Company Soles Consolidated Totals $550,806 $450, 806 $870, 090 Cost of Goods Sold 318, 608 300, 608 428, 808 Inventory, Dec. 31 180, 830 210, 890 375, 080 On January 1, 20X2, Paint's inventory contained items purchased from Stain for $75.000. The cost of the units to Stain was $50,000. All intercorporate sales during 20X2 were made by Stain to Paint. Required: a. What amount of intercorporate sales occurred in 20X7? Answer is complete and correct. Amount of intercorporate sales $ 180,000 b How much unrealized intercompany profit existed on January 1, 20X2? On December 31, 20X2? Answer is complete and correct. January December Inrealized Intercumpany prout $ 25.090 15:000 0

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