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Your answer is partially correct. Try again. Presented below are certain account balances of Sheffield Products Co. Rent revenue $7,390 Sales discounts $8,110 Interest expense
Your answer is partially correct. Try again. | |
Presented below are certain account balances of Sheffield Products Co.
Rent revenue | $7,390 | Sales discounts | $8,110 | |||
Interest expense | 12,880 | Selling expenses | 99,460 | |||
Beginning retained earnings | 114,570 | Sales revenue | 403,000 | |||
Ending retained earnings | 134,670 | Income tax expense | 24,211 | |||
Dividend revenue | 71,030 | Cost of goods sold | 166,661 | |||
Sales returns and allowances | 12,840 | Administrative expenses | 76,150 |
From the foregoing, compute the following: (a) total net revenue using single-step income statement, (b) net income, (c) income attributable to controlling stockholders, if Sheffield has allocation to noncontrolling interest of $17,160.
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