Computing Net Sales and Net Income Attributable to Controlling Interest The following pretax amounts are taken from the accounting records of Gilmore Corp. at December 31, its annual year-end. Dividends declared and paid $17,500 Casualty loss Sales revenue, net Cost of goods sold Operating expenses Required Compute the following for the year, assuming an income tax rate of 25%. a. Net income $ b. Net income attributable to controlling interest $ Check 150,000 Common stock (par $5) 50,000 Beginning retained earnings, December 31, prior year 30,000 Net income attributable to noncontrolling interest Previous Save Answers $11,000 100,000 30,000 2,500

Computing Net Sales and Net Income Attributable to Controlling Interest The following pretax amounts are taken from the accounting records of Gilmore Corp. at December.31, its annual year-end. Required Compute the following for the year, assuming an income tax rata if 25%