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Pluto Company Owns 80 Percent of the Common Stock of Star

Question 37

Multiple Choice

Pluto Company owns 80 percent of the common stock of Star Corporation.During the year,Pluto reported sales of $1,000,000,and Star reported sales of $500,000,including sales to Pluto 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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