Hi dear helper,

Please letting me know how to calculate it(step by step) and give me an explanation about the steps, thanks, I'll give you the thumb!

(If you can't or do not want to, please let someone else do, thanks)

On 1 July 2014. Ark Ltd acquired a 30% interest in Sign Ltd for $54,929,000. During the year ended 30 June 2015 Sign Ltd reported a profit (after tax) of $7,500,000 and Ark sold inventory to Sign Ltd at a markup of $180,000, 60% of this inventory was not sold by Sign Ltd and remained on hand as of 30 June 2015. Other information: Ark has significant influence over Sign Ltd. Ark Ltd has several subsidiaries and prepares consolidated financial statements. Investments in associates are recorded at cost in the single entity financial statements of Ark Ltd and using the equity method in the consolidated financial statements at the Ark Ltd Group. The tax rate is 30%. Required: Calculate the Share of Profits of Sign Ltd in the consolidated financial statements of the Ark Ltd Group tor the year ended 30 June 2015. A. $1,034,964 B. $2,217,780 C. None of the other answer options is correct. D. $2,227,446 E. $2,250,000