question akers company a 100 owned subsidiary of muhs corporation sells inventory to 4281493
Question
Akers Company, a 100% owned subsidiary of Muhs Corporation,sells inventory to Muhs at a 30% profit on selling price. Thefollowing data are available pertaining to inter-company purchasesby Muhs:
|
Inter-company sales: |
|
Unsold at year end based on selling price: |
|
2014: |
$ 9,600 |
|
2014: |
$1,440 |
|
2015: |
$14,400 |
|
2015: |
$4,800 |
|
2016: |
$18,000 |
|
2016: |
$3,600 |
Aker's profit numbers were $84,000, $102,000 and $112,800 for 2014,2015, and 2016, respectively. Muhs received dividends from Akers of$12,000 for 2014 and 2015, and $18,000 for 2016.
What is the balance in Equity Income for 2016?
Select one:
a. $102,000
b. $114,240
c. $112,800
d. $113,160