Manama Co owns 80 % of the outstanding common stock of Mic Co The book values and far vals of Maand buble w inventory from Muscat at 150% of Muscat's cost. Dunne 2020, Muscat sold $440,000 of handine to Mana Ma's ge and $66,000, respectively. Income statement information for both companies f 2020 is as foll Manama $700,000 Muscat Sales Revenue Investment income from Muscat Cost of Goods Sold Expenses Net Income Required 145,600 (460,000) (120.000) $ $265,600 $440.000 (140,000) (95.000) $205,000 Prepare a consolidated income statement for Manama Co and Subsidiary for 2020 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) BIUS Paragraph v Arial v 10pt AL I. The + 3 v BBB hp Moving to another question will save this response. Question 11 Mild Manama Corporation acquired 100% of Muscat Inc.'s common stock on January 2, 2020. During 2020, Manama sold inventory to Muscat S 5040.000 of wh As of the end of 2020, 30% of the inventory was unsold. In 2021, Manama sold inventory with a cost of $820,000 to Muscat for $1,000,000, year-end. For 2021, the cost of goods sold totaled as follow: 2021 Selected Data: Cost of Goods Sold Manama 5,800,000 Muscat 1,300,000 What was consolidated cost of goods sold for 2021? OA. $7,100,000 OB. $6,121,000 Oc. $6,092,800. OD. $6,038,800. OE $6,107,200 Moving to another question will save this response