Stiller Company, an 80% Owned Subsidiary of Leo Company, Purchased

question 28

Multiple Choice

Stiller Company, an 80% owned subsidiary of Leo Company, purchased land from Leo on March 1, 2012, for $75,000. The land originally cost Leo $60,000. Stiller reported net income of $125,000 and $140,000 for 2012 and 2013, respectively. Leo uses the equity method to account for its investment.
Compute income from Stiller on Leo's books for 2012.

• A) $110,000.
• B) $100,000.
• C) $125,000.
• D) $85,000.
• E) $88,000.

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A data structure consisting of nodes that are connected through pointers, allowing for flexible memory allocation and dynamic resizing.

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In the context of databases, a command used to add new records to a table.

Dynamically Linked List

A data structure consisting of nodes linked together dynamically, allowing for efficient insertion and deletion of elements.

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