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Delta corporation owns 90 of sigma company and sigma owns

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Delta Corporation owns 90% of Sigma Company, and Sigma owns 90 % of Pi, Inc. , all of which are domestic corporations. Information for the three companies for the year ending December 31, 2011 follows:

                                                  Delta              Sigma                Pi

Operating income                    600,000            400,000         200,000

Unrealized gains in ending

inventory -                                 24,000                 0                8,000

(included in operating above)

What is Pi's accrual-based income for 2011?

Reference no: EM13575321

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