A U$.$S$.$ company owns an $80\%$ interest in a company located on Mars. Martian currency is called the Martian

Credit. During the year the parent company sold inventory that had cost $$25,000$ to the subsidiary on account for

$$30,700$ when the exchange rate was $$0\mathrm{.}5192.$ The subsidiary still held one$-$half of the inventory and had not paid

the parent company for the purchase at the end of the fiscal period. The unsettled account is denominated in

dollars. The exchange rate at the fiscal year$-$end was $$0\mathrm{.}4994.$

$($b$)$

Compute the amount of the intercompany profit to be eliminated in the consolidated statements workpaper

prepared for the current year.

Intercompany Profit $

Attempts: $0$ of $1$ used