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Business, 07.10.2019 19:20 genyjoannerubiera

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 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 the consolidation, and no other intra-entity asset transfers, what was the net income attributable to the noncontrolling interest for 2018?

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