Net income for sparis was 912000 during 2011. what was the, Ask an Expert

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Gibson Corp. owned a 90% interest in Sparis Co. Sparis frequently made sales of inventory to Gibson. The sales, which include a markup over cost of 25%, were $420,000 in 2010 and $500,000 in 2011. At the end of each year, Gibson still owned 30% of the goods. Net income for Sparis was $912,000 during 2011. What was the noncontrolling interest's share of Sparis' net income for 2011?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M9414161

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