Salt IncIs a Wholly Owned Subsidiary of Pepper Inc

question 20

Multiple Choice

Salt Inc.is a wholly owned subsidiary of Pepper Inc.During 2013, Salt reported sales of $4,500,000, including $750,000 of Pepper.Pepper reported sales of $15,000,000.Included in Pepper's sales was $500,000 of the goods they bought from Salt.They sold them for $600,000.What would be the sales amount reported on the consolidated income statement for 2013?

• A)$18,750,000
• B)$19,000,000
• C)$19,250,000
• D)$19,500,000

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Definitions:

National Assembly

is a legislative body in various countries, and it is often the lower house of a bicameral legislature or a unicameral legislature.

Estates-General

The legislative body in pre-revolutionary France made up of representatives of the three estates: the clergy, the nobility, and the commonpeople.

Third Estate

The common people of France who were not part of the clergy or nobility, representing the vast majority of society and leading the charge in the French Revolution.

Church Properties

Refers to land or buildings owned by religious institutions, which historically could include a wide range of assets from places of worship to educational and healthcare facilities.