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Blue Company Owns 80 Percent of the Common Stock of White

Question 27

Multiple Choice

Blue Company owns 80 percent of the common stock of White Corporation.During the year,Blue reported sales of $1,000,000,and White reported sales of $500,000,including sales to Blue of $80,000.The amount of sales that should be reported in the consolidated income statement for the year is:


A) $500,000.
B) $1,300,000.
C) $1,420,000.
D) $1,500,000.

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