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Problem 5-7 (LO 5-3, 5-4, 5-5) Angela, Inc, holds a 90 percent interest in Corby Company During 201/, Corby sold invendory costing 505,900 to Angeta
Problem 5-7 (LO 5-3, 5-4, 5-5) Angela, Inc, holds a 90 percent interest in Corby Company During 201/, Corby sold invendory costing 505,900 to Angeta for $137000 0f not sold to outsiders until 2018 During 2018, Corby sold inventory costing $128,400 to Angela for $214,000 A total of 96500 of ths inendory was rders until 2019 In 2018, Angela reported separate net income of $208,000 while Corby's net income was $117000 after excess n the 2018 income of the sut 11,412 $11700 $12,660 $10,856 0
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