The income Statements of Ruger Inc. and Nina Co. are:

Compute Ruger?a Net Income based upon the following ownership Nina Co.

a. 10%

b. 40%

c. 80%

Transcribed Image Text:

Sales Cost of Goods Sold Gross Profit Sales and Administration Net Income Expenses Ruger $1,000,000 500,000 500,000 $ 300,000 200,000 Nina $400,000 150,000 250,000 170,000 $ 80,000 Sales Cost of Goods Sold Gross Profit Sales and Administration Net Income Expenses Ruger $1,000,000 500,000 500,000 $ 300,000 200,000 Nina $400,000 150,000 250,000 170,000 $ 80,000

Answer rating: 100% (QA)

a Amount Ruger Net Income from Operations 20000 Dividend Reve... View the full answer