What would be the amount of realized profit after tax

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Question - X Inc. owns 80% of Y Inc.You were given the following information for inter company transactions in 2020:

X sold inventory to Y. The profit before tax on this sale was $10,000. 60% of the inventory remained in the warehouses of Y at the end of the years.

Y sold inventory to X. The profit before tax on this sale was $15,000. 25% of the inventory remained in the warehouse of X at the end of the year.

Y sold land to X at before tax profit of $50,000.

What would be the amount of realized profit after tax on the sale of inventory to Y by X at the end of the year, assuming a tax rate of 30%.

Reference no: EM133003406

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