Reference no: EM13922846
Akers Company, a 100% owned subsidiary of Muhs Corporation, sells inventory to Muhs at a 30% profit on selling price. The following data are available pertaining to inter-company purchases by Muhs:
Inter-company sales: Unsold at year end based on selling price:
2014: $ 9,600 2014: mce_markernbsp; 1,440
2015: $14,400 2015: $4,800
2016: $18,000 2016: $3,600
Akers' 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 2014?
a. $84,000
b. $82,560
c. $83,568
d. $74,400
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