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Blue Company owns 80 percent of the common stock of White Corporation. During the year,...

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Accounting

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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