Reference no: EM132700436
Question - Company P is considering investing in Company S, but is unsure about what level of ownership should be undertaken. Company P and Company S have the following reported incomes;
Company P Company S
Sales $1,000,000 $500,000
Cost of Goods Sold 300,000 200,000
Gross Profit $700,000 $300,000
Selling and Administrative Expenses 220,000 100,000
Net Income $480,000 $200,000
Company S paid $20,000 in cash dividends to its investors. Make a pro forma income statement for Company P that compares income under 15%, 40%, 90%, and 100% ownership levels.
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