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New Jersey Company owns 80% of the common stock of Newark, Inc. In 2012, New Jersey reported sales of $300,000, and Newark reported sales of $100,000, including sales to New Jersey of $20,000. The amount of sales that should be reported in the consolidated income statement for 2012 is:
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New Jersey Company owns 80% of the common stock of Newark, Inc. In 2012, New Jersey reported sales o...
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