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Please solve for cost of goods sold,consolidated inventory and net income attributable to the non controlling interest based on the table below. Question 3 O
Please solve for cost of goods sold,consolidated inventory and net income attributable to the non controlling interest based on the table below.
Question 3 O pts In 2010, Parent acquired 75% of Subsidiary. The acquisition resulted in $8,000 excess amortization expense each year through 2030. The following table shows selected account balances from the two companies as of 12/31/2021 Parent Subsidiary Sales 1,232,000 693.000 Cost of Goods Sold 559.000 380,000 289.000 203,000 1.425,000 346,000 Operating Expenses Retained Earnings 1/1/21 Inventory Buildings (net) 665,000 211,000 303,000 689.000 Assume the following intra-entity transactions during 2020 and 2021. Parent marks up its cost 25% to determine the sales price. 2020 2021 179.000 228.000 Intraentity downstream sales Retained at year end 54,000 76,000 Solve for 2021 consolidated cost of goods sold, consolidated inventory, and net income attributable to the non controlling interest. Read the following carefully: upload your Excel document to support your answers, then scroll to the next question and enter your final answers Step by Step Solution
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