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Parabola Company owns 100 percent of Sine Limited. On the date of acquisition, the book value of net assets acquired equals the fair value of
Parabola Company owns 100 percent of Sine Limited. On the date of acquisition, the book value of net assets acquired equals the fair value of the net assets acquired. For 2023, Sine reported net income of $3,000K and paid dividends of $250K. The following information is available regarding intercompany transactions: - Sine's ending inventory at December 31, 2022 included merchandise acquired from Parabola: the unconfirmed profit on this inventory was $117K. - Parabola's ending inventory at December 31, 2023 included merchandise acquired from Sine: the unconfirmed profit on this inventory was $260K. - Sine's ending inventory at December 31, 2023 included merchandise acquired from Parabola: the unconfirmed profit on this inventory was $159K. - Parabola's ending inventory at December 31, 2022 included merchandise acquired from Sine: the unconfirmed profit on this inventory was $234K. What is Parabola's equity in net income for 2023 in thousands (K)
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