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Assume that Parent Company A owns all of the common stock of subsidiary Company S. During 2018, Company S sold land to Company A at

Assume that Parent Company A owns all of the common stock of subsidiary Company S. During 2018, Company S sold land to Company A at a gain. No consolidation entry for the sale of the land was made at the end of 2018. What errors will this omission cause in the consolidated financial statements?

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