Binary Company acquired 7 5 percent ownership of Fordham Corporation in 20X5, at underlying book value. On that date, the fair value of the noncontrolling interest was equal to 25 percent of the book value of Fordham Corporation. Binary purchased inventory from Fordham for $150,000 on July 24, 20X6, and resold 90 percent of the inventory to unafliated companies on November 11, 20X6, for $160,000. Fordham produced the inventory sold to Binary for $120,000. The companies had no other transactions during 20X6. 42. Based on the information given above, what amount of sales will be reported in the 20X6 consolidated income statement? A. $120,000 B. $135,000 C. $150,000 D. $160,000