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Computing Net Sales and Net Income Attributable to Controlling Interest The following pretax amounts are...

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Computing Net Sales and Net Income Attributable to Controlling Interest The following pretax amounts are taken from the accounting records of Gilmore Corp. at December 31, its annual year-end. Dividends declared and paid $17,500 Casualty loss Sales revenue, net Cost of goods sold Operating expenses Required Compute the following for the year, assuming an income tax rate of 25%. a. Net income $ b. Net income attributable to controlling interest $ Check 150,000 Common stock (par $5) 50,000 Beginning retained earnings, December 31, prior year 30,000 Net income attributable to noncontrolling interest Previous Save Answers $11,000 100,000 30,000 2,500
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Computing Net Sales and Net Income Attributable to Controlling Interest The following pretax amounts are taken from the accounting records of Gilmore Corp. at December.31, its annual year-end. Required Compute the following for the year, assuming an income tax rata if 25%

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