2. parker corporation owns 80 percent of smith inc.’s common stock. during 20x1, parker sold inventory to smith for $250,000 on the same terms as sales made to third parties. smith sold all of the inventory purchased from parker in 20x1. the following information pertains to smith’s and parker’s sales for 20x1: parker smithsales $1,000,000 $700,000cost of sales 400,000 350,000gross profit 600,000 350,000what amont shouls parker report as cost of sales in its 20x1 consolidated income statement?

At december 31, 2016, pina corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,810 shares $10,781,000 common stock, $5 par, 4,026,000 shares 20,130,000 during 2017, pina did not issue any additional common stock. the following also occurred during 2017. income from continuing operations before taxes $21,950,000 discontinued operations (loss before taxes) $3,505,000 preferred dividends declared $1,078,100 common dividends declared $2,300,000 effective tax rate 35 % compute earnings per share data as it should appear in the 2017 income statement of pina corporation