Gargiulo Company, a 90% Owned Subsidiary of Posito Corporation, Sells

question 15

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, 2010. 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) $9,400.
• B) $9,375.
• C) $9,425.
• D) $9,325.
• E) $8,485.

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