purchased inventory for $22,000 and sold the full amount to Scout Company for $32,000. On...
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purchased inventory for $22,000 and sold the full amount to Scout Company for $32,000. On December 31, 20x5, Scout's ending inventory included $6,400 of Items purchased from Player. Also in 205, Scout purchased inventory for $62,000 and sold the units to Player for $92,000. Player Included $23,000 of its purchase from Scout in ending Inventory on December 31, 205. Summary Income statement data for the two companles revealed the following: Required: a. Compute the amount to be reported as sales in the 205 consolidated Income statement. b. Compute the amount to be reported as cost of goods sold in the 205 consolidated income statement. Note: Do not round intermedlate calculations. c. What amount of income will be assigned to the noncontrolling shareholders in the 205 consolidated income statement? Note: Do not round intermediate calculations. d. What amount of income will be assigned to the controlling interest in the 205 consolidated income statement? Note: Do not round intermediate calculations
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purchased inventory for $22,000 and sold the full amount to Scout Company for $32,000. On December 31, 20x5, Scout's ending inventory included $6,400 of Items purchased from Player. Also in 205, Scout purchased inventory for $62,000 and sold the units to Player for $92,000. Player Included $23,000 of its purchase from Scout in ending Inventory on December 31, 205. Summary Income statement data for the two companles revealed the following: Required: a. Compute the amount to be reported as sales in the 205 consolidated Income statement. b. Compute the amount to be reported as cost of goods sold in the 205 consolidated income statement. Note: Do not round intermedlate calculations. c. What amount of income will be assigned to the noncontrolling shareholders in the 205 consolidated income statement? Note: Do not round intermediate calculations. d. What amount of income will be assigned to the controlling interest in the 205 consolidated income statement? Note: Do not round intermediate calculations 