21. Saban company had the following transactions with affiliated parties during the year just ended. - Sales of \\( \\$ 50,000 \\) to Melacon company with \\( \\$ 20,000 \\) gross profit. Melacon had \\( \\$ 15,000 \\) of this inventory on hand at year end. Sabin owns a \15 interest in Melacon and does not ask exert significant influence over Melacon. - Purchases of inventory totaling \\( \\$ 240,000 \\) from Spurrier enterprises, a wholly owned subsidiary of Saban Company. Spurrier's gross profit on the sale was \\( \\$ 48,000 \\). Saban had \\( \\$ 60,000 \\) of these purchases still in inventory at your end. Before eliminating entries (related to the consolidation process), Saban had combined current assets of \\( \\$ 320,000 \\). What amount should Saban report in it's December 31 consolidated balance sheet for current assets? a. \\( \\$ 380,000 \\) b. \\( \\$ 302,000 \\) c. \\( \\$ 320,000 \\) d. \\( \\$ 314,000 \\) 21. Saban company had the following transactions with affiliated parties during the year just ended. - Sales of \\( \\$ 50,000 \\) to Melacon company with \\( \\$ 20,000 \\) gross profit. Melacon had \\( \\$ 15,000 \\) of this inventory on hand at year end. Sabin owns a \15 interest in Melacon and does not ask exert significant influence over Melacon. - Purchases of inventory totaling \\( \\$ 240,000 \\) from Spurrier enterprises, a wholly owned subsidiary of Saban Company. Spurrier's gross profit on the sale was \\( \\$ 48,000 \\). Saban had \\( \\$ 60,000 \\) of these purchases still in inventory at your end. Before eliminating entries (related to the consolidation process), Saban had combined current assets of \\( \\$ 320,000 \\). What amount should Saban report in it's December 31 consolidated balance sheet for current assets? a. \\( \\$ 380,000 \\) b. \\( \\$ 302,000 \\) c. \\( \\$ 320,000 \\) d. \\( \\$ 314,000 \\)