Perth Corporation owns 90 percent of Dundee Company's stock. At the end of 20X8, Perth and Dundee reported the following partial operating results and inventory balances: Perth Corporation Dundee Company Total sales $500,000 $350,000 Sales to Dundee Company 100,000 Sales to Perth Corporation 150,000 Net income 15,000 Operating income (excluding investment income from Dunde) 56,000 Inventory on hand, December 31, 20X8, purchased from: Dundee Company 36,000 Perth Corporation 31,000 Perth regularly prices its products at cost plus a 30 percent markup for profit. Dundee prices its sales at cost plus a 10 percent markup. The total sales reported by Perth and Dundee include both intercompany sales and sales to nonaffiliates. 5. Required information Based on the information given above, what amount of sales will be reported in the consolidated income statement for 20X8? $500,000 $850,000 $600,000 $800,000