Business, 13.03.2020 19:11 viicborella

Gargiulo Company, a 90% owned subsidiary of Posito Corporation, transfers inventory to Posito at a 25% gross profit rate. The following data are available pertaining specifically to Posito's intra-entity purchases from Gargiulo. Gargiulo was acquired on January 1, 2017. 2017 2018 2019Purchases by Posito $ 8,000 $ 12,000 $ 15,000 Ending inventory on Posito's books 1,200 4,000 3,000 Assume the equity method is used. The following data are available pertaining to Gargiulo's income and dividends. 2017 2018 2019Gargiulo's net income $ 70,000 $ 85,000 $ 94,000 Dividends paid by Gargiulo 10,000 10,000 15,000 Assuming there are no excess amortizations associated with the consolidation, and no other intra-entity asset transfers, compute the net income attributable to the noncontrolling interest of Gargiulo for 2018.A. $8,570.B. $7,580.C. $8,500.D. $8,400.E. $8,430.

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Gargiulo Company, a 90% owned subsidiary of Posito Corporation, transfers inventory to Posito at a 2...

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