Multiple Choice
Gargiulo Company, a 90% owned subsidiary of Posito Corporation, sells inventory to Posito at a 25% profit on selling price. The following data are available pertaining to intra-entity purchases. Gargiulo was acquired on January 1, 2010.
Assume the equity method is used. The following data are available pertaining to Gargiulo's income and dividends.
Compute the non-controlling interest in Gargiulo's net income for 2012.
A) $9,400.
B) $9,375.
C) $9,425.
D) $9,325.
E) $8,485.
Correct Answer:
Verified
Correct Answer:
Verified
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