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Jordan, Inc. holds 70% of the outstanding stock of Paxton, which allows Jordan to control Paxton. Jordan reports revenues for the year of $275,000 and

  1. Jordan, Inc. holds 70% of the outstanding stock of Paxton, which allows Jordan to control Paxton. Jordan reports revenues for the year of $275,000 and Paxton reports $100,000. What revenue amount would be reported in a consolidated financial statement?
    1. $300,000
    2. $345,000
    3. $375,000
    4. $400,000

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