6. Sun Corporation regularly sells inventory items to its parent, Pam Corporation. In preparing the consolidated income

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6. Sun Corporation regularly sells inventory items to its parent, Pam Corporation. In preparing the consolidated income statement, which of the following items would not be affected by the direction (upstream or downstream) of these intercompany sales?

a Consolidated gross profit b Noncontrolling interest share c Controlling interest share of consolidated net income d Consolidated retained earnings

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Advanced Accounting

ISBN: 9781292214597

13th Global Edition

Authors: Joseph H. Anthony, Bruce Bettinghaus, Floyd A. Beams, Kenneth Smith

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