Question - Atlarge Inc. owns 70% of the outstanding voting common stock of Ticker Co. In 2010, Ticker had sold inventory costing $28,800 to Atlarge foor $48,000. All but 25% of this merchandise was consumed by Atlarge during 2010. The remainder was used during the first few weeks of 2011.
What amount of gross profit would Atlarge have realized in 2011 related to Ticker's 2010 sale of inventory to Atlarge?