Prob 4-3 Damp;D A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46...

Refer to the proceeding facts for Panther's acquisition of Spider common stock. On January 1, 20X2, Panther held merchandise acquired from Spider for $8000. This beginning inventory had an applicable gross profit of 25%. During 20X2, Spider sold $30,000 worth of merchandise to Panther. Panther held $6000 of this merchandise at December 31, 20X2. This ending inventory had an applicable gross profit of 30%. Panther owed Spider $6000 on December 31 as a result of these intercompany sales. Prepare a zone analysis and a determination and distribution of excess schedule for the investment in Spider. There are TWO tabs on the excel cheat sheet. BOTH tabs need to be utilized on order to answer this question.