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Question Completion Status: QUESTION1 Alpha Corporation owns 100 percent of Beta Company, and Beta owns 80 percent of Gamma, Inc, all of which are domestic corporations. There were no excess allocation values at the date of acquisition of the subsidiaries. Information for the three companies for the year ending December 31, 2018 follows: Alpha 300, Beta Gamma 100, Separate company net income Gross profit from intra-entity transfers of inventory (included in operating income above). The goods have not yet been sold to outsiders or consumed within the consolidated entity. 12.0 4,00 What is Gamma's accrual-based net income for 2018? $96,000. o $76,000. o $80,000. $100,000. O$104,000. QUESTION 2 Alpha Corporation owns 100 percent of Beta Company, and Beta owns 80 percent of Gamma, Inc., all of which are domestic corporations Click Save and Submit to save and submit. Click Save All Answers to save all answers.

Answer 1