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Pro Golf Warehouse, Inc. (PGW), sells gold equipment throughout the United States. PGW also sells golf equipment in Canada through its subsidiary, Canadian Gold Warehouse
Pro Golf Warehouse, Inc. (PGW), sells gold equipment throughout the United States. PGW also sells golf equipment in Canada through its subsidiary, Canadian Gold Warehouse (CGW), which is organized as a Canadian corporation. In addition, PGW has an American Subsidiary, Tennis Supplies, Inc. (TSI). PGW includes income (loss) from both subsidiaries on its audited financial statements, which show net income of $97 million in 2010. CGW, which is not consolidated by PGW for U.S. tax purposes, had net income of $31 million TSI, which is consolidated for U.S. tax purposes, had a loss of $16 million. How is the information reported on Schedule M-3
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