Portia Ltd.acquired 80% of Siro Ltd.on December 31,20X0.At the date of acquisition,Siro's net assets totalled $15,000.Portia uses the cost method to record the acquisition.At December 31,20X1,the separate-entity financial statements showed the following:
During 20X1,Siro sold $7,000 of goods,with a gross margin of 40%,to Portia.At the end of 20X1,$3,000 of the goods were still in Portia's inventory.What portion of consolidated net income for 20X1 is attributable to Portia?
Definitions:
Proactive Behaviours
Actions initiated by an individual to effect positive change in their environment.
Environmental Factors
External elements, including economic, political, social, and ecological factors, that can affect an organization's operations and outcomes.
Individual Factors
Refers to the personal attributes or characteristics that influence a person's behavior and decisions in various situations.
Proactive Behaviours
Actions initiated by an individual to effect change, anticipate outcomes, and engage in future-oriented task management.
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