E4-3B (Income Statement Items)

E4-3B (Income Statement Items) Presented below are certain account balances of Patel Products Co.
Rental revenue $ 5,200 Sales discounts $ 6,240
Interest expense 10,160 Selling expenses 79,520
Beginning retained earnings 91,520 Sales 312,000
Ending retained earnings 107,200 Income tax 24,800
Dividend revenue 56,800 Cost of goods sold 147,520
Sales returns 9,920 Administrative expenses 66,000
Allocation to noncontrolling Interest 11,000
Instructions
From the foregoing, compute the following: (a) total net revenue, (b) net income, (c) dividends declared,
and (d) income attributable to controlling shareholders during the current year.