Consolidated Financial Statement

Panda company owns an 80% interest in SAM corporation. Panda's investment in 5AM Corporation is carried on cost basis was equal to book value of Sam's stockholder's equity. During 2017, Sam Corp sold merchandise to Panda Corp for 500,000 at a gross profit of 100,000. At December 31,2012, half of merchandise is included in Panda's inventory. Meanwhile included in Sam's beginning inventory was 200,000 merchandise from inter-compan".r sales which was made at a 20% profit. Separate inoome statements for Panda and Sam for the vear ended 201? are summarized as follows: Panda Sales 1,500,000 Cost of sales {800,000} Operating expenses (300,000) Dividend revenue _20_0.0_0_Q Total 600,000 What is gross prot? What is gross prot attributable to the controlling interest? What is gross prot attributable to the non-controlling interest Sam 2,000,000 {1,200,000} (420,000) ldjm 520,000