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pie bakery owns 60 percent of slice products company's stock. during 20x8 slice produced 100,000 bags...

pie bakery owns 60 percent of slice products company's stock. during 20x8 slice produced 100,000 bags of flour which it sold to pie for $900,000. On december 31, 20x8 pie had 20,000 bags of flour purchased from slice products on hand. slice prices its slaes at cost plus 50 percent for profit. pie, which purchased all its flour from slice in 20x8 had no inventory on hand jan 1, 20x8. Pie reported income from baking operations of $400,000 and slice reported ni of $150,000 for 20x8.

could someone prepare an income statement for both companies? thank you!!

thank you!!!!

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ekkarill92 answered 1 year ago
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