2. Fern Corporation owns 90 percent of Dundee Company's stock. At the end of 20x6, Perth and Dundee reported thefollowing partial operating results and inventory balances:Perth CoDundee CoTotal Sales500,000350,000Sales to Dundee100,000Sales to Perth150,000Net Income15,000Operating income (excluding investment income from Dunde56,000Inventory on hand Dec 31 20x8 From:Dundee Co36,000Perth Co31,000Perth regularly prices its products at cost plus a 30 percent markup for profit. Dundee prices its sales at cost plus a 10percent markup. The total sales reported by Perth and Dundee include both intercompany sales and sales to nonaffiliates.Based on the information given above, what amount of sales will be reported in the consolidated income statement for20X8? (Points : 1)$500,000$850,000$600,000