Phone corporation owns 80 percent of Smart Company's stock. At the end of 20. Phone and Smart reported the following or operating and inventory balances Phan Com 57000 1922.000 COM Carport Met Otthon excluding investment in the A hand. Deceber 10, purchased from That company Phone corazon 2900 10.000 10.000 10.40 *6.519 Phone regularly prices its products at cost plus a 40 percent markup for prof. Smart prices its sales at cost plus a 20 percent markup The total sales reported by Phone and Smart include both intercompany sales and sales to nonaffiliates Required: a. What amount of sales will be reported in the consolidated come statement for 20x8? Amal What amount of cost of goods sold will be reported in the 20x8 consolidated income statement (Do not round Intermediate calculations and round your final answers to nearest whole dollar amount) Amen! What amount of consolidated net income and income to controlling interest will be reported in the 20x consolicited income statement What amount of cost of goods sold will be reported in the 20x consolidated income statement? (Do not round Intermediate calculations and round your final answers to nearest whole dollar amount) Alph What amount of consolidated net income and income to controlling interest will be reported in the 20x8 consolidated income statement? Consolidated net income Income to contrainterest d What balance will be reported for inventory in the consolidated balance sheet for December 31 20X8? Phone corporation owns 80 percent of Smart Company's stock. At the end of 20. Phone and Smart reported the following or operating and inventory balances Phan Com 57000 1922.000 COM Carport Met Otthon excluding investment in the A hand. Deceber 10, purchased from That company Phone corazon 2900 10.000 10.000 10.40 *6.519 Phone regularly prices its products at cost plus a 40 percent markup for prof. Smart prices its sales at cost plus a 20 percent markup The total sales reported by Phone and Smart include both intercompany sales and sales to nonaffiliates Required: a. What amount of sales will be reported in the consolidated come statement for 20x8? Amal What amount of cost of goods sold will be reported in the 20x8 consolidated income statement (Do not round Intermediate calculations and round your final answers to nearest whole dollar amount) Amen! What amount of consolidated net income and income to controlling interest will be reported in the 20x consolicited income statement What amount of cost of goods sold will be reported in the 20x consolidated income statement? (Do not round Intermediate calculations and round your final answers to nearest whole dollar amount) Alph What amount of consolidated net income and income to controlling interest will be reported in the 20x8 consolidated income statement? Consolidated net income Income to contrainterest d What balance will be reported for inventory in the consolidated balance sheet for December 31 20X8
