Consolidated is the process of summarizing and combining the financial statement of two companies into one. Consolidate net income is the sum total of net income of holding company and net income of its subsidiary companies after deducting unrealized gain in inventories and income from intra-group transactions of the companies. Select the best option for the amount of consolidated net income reported for 20X6

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Chapter 8, Problem 8.5.6E

To determine

Introduction: Consolidated is the process of summarizing and combining the financial statement of two companies into one. Consolidate net income is the sum total of net income of holding company and net income of its subsidiary companies after deducting unrealized gain in inventories and income from intra-group transactions of the companies.

Select the best option for the amount of consolidated net income reported for 20X6

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