6, X-Beams Inc. owned 70% of the voting common stock of Kent Corp. During 2011,...
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6, X-Beams Inc. owned 70% of the voting common stock of Kent Corp. During 2011, Kent made several sales of inventory to X-Beams. The total selling price was $180,000 and the cost was $100,000. At the end of the year, 20% of the goods were still in X-Beams' inventory. Kent's reported net income was $300,000. What was the noncontrolling interest in Kent's net income? E. $86,640 A. $90,000. B. $85,200. C.$54,000. D. $94,800
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