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BuyCo, Incorporated, holds 25 percent of the outstanding shares of Marqueen Company and appropriately applies the equity method of accounting. Excess cost amortization (related

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BuyCo, Incorporated, holds 25 percent of the outstanding shares of Marqueen Company and appropriately applies the equity method of accounting. Excess cost amortization (related to a patent) associated with this Investment amounts to $10,800 per year. For 2023, Marqueen reported earnings of $102,000 and declares cash dividends of $30,000. During that year, Marqueen acquired Inventory for $54,000, which it then sold to BuyCo for $75,000. At the end of 2023, BuyCo continued to hold merchandise with a transfer price of $29,000. a. What Equity In Investee Income should BuyCo report for 2023? b. How will the intra-entity transfer affect BuyCo's reporting in 2024? c. If BuyCo had sold the inventory to Marqueen, would your answers to parts (a) and (b) change? a. Equity in investee income b. Equity accrual for 2024 will be c. If Buy Co had sold the inventory to Marqueen, would your answers to parts (a) and (b) change? by

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