Anderson Company, a 90% owned subsidiary of Philbin Corporation, transfers Inventory to Pribinot 25% gross profit rate. The following data are available pertaining specifically to Philibin's intra-entity purchases from Anderson Anderson was acquired on January 1, 2020 2020 2021 2022 58,000 $12,000 $25,000 Purchases by Philbin Ending Inventory on Philbin's books 1,200 4.000 3,000 Assume the equity method is used. The following data are available pertaining to Anderson's income and dividends. 2020 2021 $70,000 $5,000 $90,000 Anderson's net income Dividend paid by Anderson 10,000 10,000 15,000 Compute the equity in earrings of Anderson reported on Pribin's books for 2020 Multiple Choice 502.700