Big Co. owns 60% of Little Co common stock. On 1/1/23 Big Co sold a patent to Little Co for $32,000. The patent had a book value of $20,000 on that date, with a 4 year remaining useful life. On 5/1/26 Little sells the patent to a third party for $20,000. Little Co reports earnings of $50,000 each year. Big uses the FULL equity method to account for their investment in Little. a. How much was the unrealized gain or loss on the sale?
b. How much unrealized gain or loss is carried forward to 2024?
c. What is the "income to the NC Interest" in 2023?

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.