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Fudge holds an 80% interest in the share capital of Vanilla, and a 30% interest in Chocolate. During the year Fudge sold goods to Chocolate for $80,000. Extracts from the income statements are as follows:
What is the amount to be included for revenue in the consolidated income statement? A. $900,000 B. $830,000 C. $770,000 D. $800,000 |