What is the non-controlling interests share

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Edwin Co. owned 70% of the voting common stock of Frank Co. During 2010, Frank made frequent sales of inventory to Edwin. There were unrealized gains of $40,000 in the beginning inventory and $25,000 of unrealized gains at the end of the year. Frank reported net income of $137,000 for 2010. Edwin decided to use the equity method to account for the investment. What is the non-controlling interest's share of Devin's net income for 2010? Please show the work.

A. $41,100. B. $33,600. C. $45,600 D. $21,600. E. $36,600.

Reference no: EM13752438

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