3 In preparing the consolidation worksheet for Pencil Corporation and its 60 perceel-owned subsidary Stylus Company, the Sowing consolidation entries were proposed by Pencils bookkeeper 2012020 Cash Accounts Payable 90,000 Credit 00,000 To eliminate the unpaid balance for intercorporate Inventory sales in 20x5 Worksheet Entries Cost of Goods Sold Income from Stylus Company Debit Crudit To eliminate unrealized inventory profits at December 31, 20X5 Worksheet Entries Income from Stylus Company Sales Debit 168,000 To eliminate intercompany sales for 20X5 Credit 168,000 Pencil's bookkeeper recently graduated from Oddball University, and although the dollar amounts recorded are correct, he had some confusion in determining which accounts needed adjustment. All intercorporate sales in 20X5 were from Stylus to Pencil, and Stylus sells inventory at cost plus 40 percent of cost. Pencil uses the fully adjusted equity method in accounting for its ownership in Stylus Required: a. What percentage of the intercompany inventory transfer was resold prior to the end of 20X5? Note: Do not round your intermediate calculations. Round your final answer to nearest whole percentage. < Prey 3 of 15 Next >