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In: Accounting

E4.3 (LO 2, 3) (Income Statement Items) Presented below are certain account balances of Paczki Products...

E4.3 (LO 2, 3) (Income Statement Items) Presented below are certain account balances of Paczki Products Co.

Rent revenue $ 6,500
Interest expense 12,700
Beginning retained earnings 114,400
Ending retained earnings 125,000
Dividend revenue 71,000
Sales returns and allowances 12,400
Allocation to noncontrolling interest 17,000
Sales discounts $ 7,800
Selling expenses 99,400
Sales revenue 390,000
Income tax expense 31,000
Cost of goods sold 184,400
Administrative expenses 82,500

Instructions

From the foregoing, compute the following: (a) total net revenue, (b) net income, and (c) income attributable to controlling stockholders.

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Expert Solution

ekkarill92 answered 1 year ago
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