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. 
For consolidation purposes, what amount would be debited to January 1 retained earnings for the 2014 consolidation worksheet entry with regard to the unrealized gross profit of the 2013 intra-entity transfer of merchandise?
Definitions:
Assisted-Living Agency
An organization that provides residential care services and support to individuals who cannot live independently but do not require the full-time care of a nursing home.
Daily Medications
Prescribed drugs that are taken regularly each day to manage or treat specific medical conditions.
Tube Feeding
A medical procedure to provide nutrition to individuals who cannot obtain nutrition by mouth, using a tube placed into the stomach or intestine through the nose or abdomen.
Tracheostomy Suctioning
The process of removing secretions from the trachea through a tracheostomy tube to maintain airway patency.
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