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Gibson Corp. owned a 90% interest in Sparis Co. Sparis frequently made sales of inventory to...

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Accounting

Gibson Corp. owned a 90% interest in Sparis Co. Sparisfrequently made sales of inventory to Gibson. The sales, whichinclude a markup over cost of 25%, were $420,000 in 2017 and$500,000 in 2018. At the end of each year, Gibson still owned 30%of the goods. Net income for Sparis was $912,000 during 2018.Assuming there are no excess amortizations associated with theconsolidation, and no other intra-entity asset transfers, what wasthe net income attributable to the noncontrolling interest for2018?

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