What was the noncontrolling interest share

Reference no: EM13514978

How do you show your work to get this answer:
15. 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 2010 and $500,000 in 2011. At the end of each year, Gibson still owned 30% of the goods. Net income for Sparis was $912,000 during 2011. What was the noncontrolling interest's share of Sparis' net income for 2011?
A. $85,680.
B. $90,600.
C. $90,720.
D. $91,680.
E. $91,800.

Reference no: EM13514978

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