Anderson Company, a 90% owned subsidiary of Phillbin Corporation, transfers Inventory to Philbin at a 25% gross profit rate. The following data are available pertaining specifically to Philbin's intra-entity purchases from Anderson Anderson was acquired on January 1, 2020. 2020 $8,000 2021 2022 $12,000 $15,000 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 2022 $70,000 $85,000 $94,000 Anderson's net income Dividends paid by Anderson 10,000 10,000 15,000 For consolidation purposes, what amount would be debited to Januaryt retained earnings for the 2020 consolidation worksheet entry with regard to the unrecognized intra-entity gross profit remaining in ending Inventory with respect to the 2020 intro-entity transfer of merchandise? Multiple Choice $300 2 ***