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Question: Xing Corporation owns 80 percent of the voting common shares of Adams Corporation. Noncontrolling interest was assigned $24,000 of income in the 20X9 consolidated income statement. What amount of net income did Adams Corporation report for the year? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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Category:- Accounting Basics
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