4. Merchant plc owns 100% of the share capital of its subsidiary Bronco plc. The following transactions took place during the financial year ending 31 December 20X0: Merchant plc purchased goods from Supplier Inc (an unrelated entity), for a price of 10,000 paid in cash Merchant plc sold the goods to Bronco plc for a price of E11,000 paid in cash Bronco plc sold 70% of the goods to Client Inc (an unrelated entity) for a price of 9,000 paid in cash Which of the following statements about Merchant ple's consolidated financial statements for the year ending 31 December 20X0 is incorrec Unrealised profits on inter-company sales, eliminated in the consolidation process, equal 300 (H) Profits reported on the consolidated statement of comprehensive income equal 2,000 (10) Sales reported on the consolidated statement of comprehensive income equal E20,000 (iv) Inventory reported on the consolidated statement of financial position on 31 December 2000 equals 3,000 A) B) C. (10) DTM