A Activity X A LTI Launch X Question 11 - Ch.4 Consolida X G McGuire Company acquired X Course Hero * *Chapter 4_version 1.docx : CI x + X @ https://ezto.mheducation.com/ext/map/index.html?_con=conexternal_browser=0launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252Fltiwrapper%252FltiaCloseWi... . . . Ch.4 Consolidations IV Quiz i Saved Help Save Exit Submit G 11 W Pell Company acquires 80% of Demers Company for $500,000 on January 1, 2022. Demers reported common stock of $300,000 and retained earnings of $210,000 on that date. Equipment was undervalued by $30,000 and buildings were undervalued by $40,000, each having a 10-year remaining life. Any y! excess consideration transferred over fair value was attributed to goodwill with an indefinite life. Based on an annual review, goodwill has not been impaired. 6.66 Demers earns income and pays dividends as follows: points f 2022 2023 2024 00:35:19 Net income $ 100, 000 $ 120,000 $ 130,000 in Dividends 40, 000 50, 000 60, 000 -0) Assume the equity method is applied. Compute Pell's equity income from Demers for the year ended December 31, 2022. W Multiple Choice GW O $74,400 $73,000 + Mc Graw Hill Trending videos The Witcher Sea... Q Search will hp 1:18 PM ENG QU 10/25/2025