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What is investment income in associates that gfl will report

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GPL Inc. has a signi?cant in?uence investment of 30% in Son Ltd. Son often seils merchandise to GPL at a gross pro?t of 40%. At the beginning of the year. GPL had some of precinct purchased from Sen In Its inventory. During the veer. GPL bought $60.000 of product from Son. At the end of the year. GPL had $2,000 of product purchased from Son in its inventory. Both companies pay income tax at a rate of 20%.

Problem 1: If Son's net income for the current year is $150,000. what is the investment income in associates that GFL will report for the current year?

a) $45000

b) $45384

c) 545480

d) $45576

Reference no: EM132984731

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