What is the CI reported by Susie

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Question - Pete Enterprises owns 60% of the outstanding stock of Susie Company, which it purchased for P50,000 above the underlying book value of P720,000 on December 31, 2014. For the year 2017, Susie included in its CI P90,000 of unrealized gain on a year-end sale of depreciable assets to Pete. The NCI of Susie was assigned P12,000 of income in the 2017 consolidated financial statements. The excess allocated to equipment is amortized over 20 years. What is the CI reported by Susie for 2017?

a. P120,000

b. P150,000

c. P125,000

d: P155,000

Reference no: EM133085066

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