on 17 Xco, purchased 100% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock was $ 100,000 and retained earning $120,000, at acquisition date the net assets of book value was equal to fair value except ( inventory FV more than BV of $26,000) and (land its FV more than BV10,000 ) (Building its FV more than BV by $ 14,000 ) but ( equipment its FV less than B V by $10,000) if y co reported $160,000 net income for 31/12/2020 and paid $ 60,000 dividends y co. out of question Other information 1- the y inventory completely sold during 2020 2- the building useful life was 7 years, but equipment 5 years 3- there is no impairment for goodwill during 2020 if inventory balance on date of acquisition in parent co 50,000 & in subsidiary co 60,000 what is amount of inventory in consolidated balance sheet in 1/1/2020 Select one: a. 84,000 b. 110,000 c. 136,000 d. 130,000 stion 18 What are upstream sales? yet vered ked out of Flag question Select one: a. Sales made by a subsidiary to a parent b. Any sales made from one any company to another c. Sales made by a subsidiary to another subsidiary d. Sales made by a parent to a subsidiary