E4-3B (Income Statement Items) Presented below are certain account balances of Patel Products Co.

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      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.