What is the non-controlling interest in income of subsidiary

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Reference no: EM133009781

Problem 1: Penn Co. owns a 90% interest in Senn Co. During 2021, Senn Co. sold inventory costing $77,000 to Penn Co. for $110,000. Of this inventory, $40,000 was not sold to outside customers until 2022. During 2022, Senn Co. sold inventory costing $72,000 to Penn Co. for $120,000. A total of $50,000 of this inventory was not sold outside customers until 2023. In 2022, Penn Co. reported separate net income of $150,000, while Senn Co.'s net income was $90,000 after excess amortization. What is the non-controlling interest in the 2022 income of the subsidiary?

A) $8,000
B) $8,200
C) $9,000
D) $9,800

Reference no: EM133009781

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