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E 5 - 7 Determine consolidated net income with downstream intercompany sales Pam Corporation owns an 8 0 percent interest in the common stock of
E
Determine consolidated net income with downstream intercompany sales
Pam Corporation owns an percent interest in the common stock of Sam Corporation, acquired several years ago at
book value. Pam regularly sells merchandise to Sam. Information relevant to the intercompany sales and profits of Pam
and Sam for and is as follows:
REQUIRED: Prepare a schedule showing consolidated net income for each year.
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