Tookey Ltd sold inventory items (with a cost of $75 000) to its parent Milky Ltd for $135 000. One third of the inventory items were sold by Milky Ltd to external parties before the financial year end. Ignoring taxes, which of the following statements is correct with respect to this transaction only? C a. Consolidated sales will decrease by $75 000 b. Consolidated sales will decrease by $95 000 c. Consolidated profit will decrease by $20 000 d. Consolidated profit will decrease by $40 000 e. Consolidated profit will decrease by $60 000

Tookey Ltd sold inventory items (with a cost of $75000 ) to its parent Milky Ltd for $135000. One third of the inventory items were sold by Milky Ltd to external parties before the financial year end. Ignoring taxes, which of the following statements is correct with respect to this transaction only? a. Consolidated sales will decrease by $75000 b. Consolidated sales will decrease by $95000 c. Consolidated profit will decrease by $20000 d. Consolidated profit will decrease by $40000 e. Consolidated profit will decrease by $60000 Tookey Ltd sold inventory items (with a cost of $75000 ) to its parent Milky Ltd for $135000. One third of the inventory items were sold by Milky Ltd to external parties before the financial year end. Ignoring taxes, which of the following statements is correct with respect to this transaction only? a. Consolidated sales will decrease by $75000 b. Consolidated sales will decrease by $95000 c. Consolidated profit will decrease by $20000 d. Consolidated profit will decrease by $40000 e. Consolidated profit will decrease by $60000