IL PROBLEN10 UESTONS A. The Income Statements of Ruger Inc. and Nina Co. are: Nina $1,000,000 $400,000 500,000 150,000 Ruger Sales Cost of Goods Sold Gross Profit Sales and Administration Expenses Net Income 250,000 500,000 300,000 70,000 S 200,000 80,000 Dividends Paid Compute Ruger's Net Income based upon the following ownership of Nina Co. $20,000 $60,000 10% a. b. 40% C. 80% PTS: 1