Delta Corporation Owns 90 Percent of Sigma Company, and Sigma

question 14

Multiple Choice

Delta Corporation owns 90 percent of Sigma Company, and Sigma owns 90 percent of Pi, Inc., all of which are domestic corporations. Information for the three companies for the year ending December 31, 2011 follows:
-What is Pi's accrual-based income for 2011?

• A) $152,000.
• B) $16,000.
• C) $192,000.
• D) $200,000.
• E) $208,000.

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