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Peel Company owns 90% of the common stock of Seacore Company. Seacore Company sells merchandise to Peel Company at 20% aboveDebit Credit 451400 7 451400 118808 718808 Date Account Titles and Explanation 2014 Sales Purchases (To eliminate intercompanCalculate the amount of noncontrolling interest to be deducted from consolidated income in the consolidated income statement

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Reported subsidiary income Add: Realized profit in beginning inventory Less: Unrealized profit in ending inventory Subsidiary

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