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Grover Corp. owned a 90% interest in Silk Co. Silk frequently made sales of inventory to Grover. The sales, which include a markup over cost of 25%, were $420,000 in 2020 and $500,000 in 2021. At the end of each year, Grover still owned 30% of the goods. Net income for Silk was $912,000 during 2021. Assuming there are no excess amortizations associated with the consolidation, and no other intra-entity asset transfers, what was the net income attributable to the noncontrolling interest for 2021?

Choices: $84,300 91,680. 90,720. 85,680.

Save Answer Grover Corp. owned a 90% interest in Silk Co. Silk frequently made sales of inventory to Grover. The sales, which include a markup over cost of 25%, were $420,000 in 2020 and $500,000 in 2021. At the end of each year Grover still owned e endote 30% of the goods. Net income for Silk was $912,000 during 2021. Assuming there are no excess amortizations associated with the consolidation, and no other intra-entity asset transfers, what was the net income attributable to the noncontrolling araterest for 2021? $84 300 $91,680 $90.720 585.680