Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik

تمرين 3

Bassett Company owns 80 percent of Crimson and Crimson owns 90 percent of Damson, Inc.Operating income totals for the current year follow; they contain no investment income.None of these acquisitions required amortization expense.Included in Damson's income is a $40,000 unrealized gain on intra-entity transfers to Crimson. What is Bassett's accrual-based income for the year
a.$575,200.
b.$588,000.
c.$596,400.
d.$604,000.