Presented below are certain account balances of Novak Products Co.Rent revenue $7,170 Sales discounts $8,240Interest expense 13,450 Selling expenses 99,740Beginning retained earnings 114,990 Sales revenue 401,100Ending retained earnings 134,490 Income tax expense 26,796Dividend revenue 71,710 Cost of goods sold 166,306Sales returns and allowances 12,750 Administrative expenses 84,010Allocation to noncontrolling interest 20,840 From the foregoing, compute the following: (a) total net revenue, (b) net income, (c) income attributable to controlling stockholders, if Novak has allocation to noncontrolling interest of $20,840.(a) Total net revenue ($enter total net revenue in dollars) (b) Net income ($enter net income in dollars) (c) Income attributable to controlling stockholders ($enter income attributable to controlling stockholders in dollars)

Name: Presented below are certain account balances of Novak Products Co.Rent
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Description: Presented below are certain account balances of Novak Products Co.Rent revenue $7,170 Sales discounts $8,240Interest expense 13,450 Selling expenses 99,740Beginning retained earnings 114,990 Sales revenue 401,100Ending retained earnings 134,490 Incom

Particulars Amount ($) Amount ($) Sales revenue $401,100 Less: Sales discounts $8,240…

Answered: Presented below are certain account…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Presented below are certain account balances of Novak Products Co.

Rent revenue	$7,170	Sales discounts	$8,240
Interest expense	13,450	Selling expenses	99,740
Beginning retained earnings	114,990	Sales revenue	401,100
Ending retained earnings	134,490	Income tax expense	26,796
Dividend revenue	71,710	Cost of goods sold	166,306
Sales returns and allowances	12,750	Administrative expenses	84,010
Allocation to noncontrolling interest	20,840

From the foregoing, compute the following: (a) total net revenue, (b) net income, (c) income attributable to controlling stockholders, if Novak has allocation to noncontrolling interest of $20,840.

(a)	Total net revenue	($enter total net revenue in dollars)
(b)	Net income	($enter net income in dollars)
(c)	Income attributable to controlling stockholders	($enter income attributable to controlling stockholders in dollars)

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