consolodation

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  • November 30, 2014 at 6:03 am #190475
    Anonymous
    Inactive

    Got a bit confused today when I took the test…

    ABC company owns 80% of Big company. Net income for ABC is $200,000. Net income for Big is $100,000. ABC sells merchandise to Big company for $50,000 which originally cost ABC $20,000. Big sold 75% to outside parties. What is ABC’s Net income?

    Thanks, Alex

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