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What is the impact of the information on noncontrolling

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Question

A 90%-owned subsidiary sells merchandise to its parent at a markup of 20% on cost. The parent's beginning inventory includes $120,000 purchased from the subsidiary. The parent's ending inventory includes $156,000 purchased from the subsidiary.

What is the impact of the above information on noncontrolling interest in net income, reported on the consolidated income statement for the year?

Reference no: EM132380950

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