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, 2012. 
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) $6,970.
B) $7,000.
C) $7,030.
D) $6,270.
E) $6,230.
Correct Answer:
Verified
Correct Answer:
Verified
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