During the year, a parent sold inventory to its subsidiary for $100,000 on account. The inventory cost the parent $80,000. During that same year, the subsidiarysold the inventory to an unrelated entity for $120,000 on account. At yearend, the subsidiary still owes the parent $100,000 for the inventory purchase and theunrelated entity still owes the subsidiary $120,000.

The yearend consolidated balance sheet would include: A) accounts payable at $100,000. B) accounts receivable at $220,000. C) accounts receivable at $120,000. D) none of the above 30. The consolidated income statement for the year would include: A) sales revenue in the amount of $100,000. B) sales revenue in the amount of $120,000. C) sales revenue in the amount of $220,000. D) none of the above The consolidated income statement for the year would include: 31. A) cost of goods sold in the amount of $80,000. B) cost of goods sold in the amount of $100,000. C) cost of goods sold in the amount of $180,000. D) none of the above