Presented below are certain account balances of paczki products co.
rent revenue $6,500 sales discounts $7,800
interest expense 12,700 selling expenses 99,400
beginning retained earnings 114,400 sales revenue 390,000
ending retained earnings 134,000 income tax expense 31,000
dividend revenue 71,000 cost of goods sold 184,400
sales returns and allowances 12,400 administrative expenses 82,500
allocation to noncontrolling interest 17,000
from the foregoing, compute the following:
(a) total net revenue $
(b) net income $
(c) dividends declared $
(d) income attributable to controlling stockholders $

(a) $447,300

(b) $37,300

(c) -$17,700

(d) $20,300

Explanation:

Total net revenue:

= sales revenue - Sales discounts - Sales returns and allowances + Rent revenue + Dividend revenue

= 390,000 - $7,800 - 12,400 + $6,500 + 71,000

= $447,300

Net income:

= Total net revenue -  Cost of goods sold - Administrative expenses - Selling expenses - Interest expense - Income tax expense

= $447,300 - $184,400 - $82,500 - $99,400 - $12,700 - $31,000

= $37,300

Ending retained earnings = Beginning retained earnings + Net income - Dividend

134,000 = 114,400 + $37,300 - Dividend

Dividend = -$17,700

Income attributable to controlling stockholders:

= Net income - Allocation to non-controlling interest

= $37,300 - $17,000

= $20,300

answer; interviews;

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