Lorn corporation purchased inventory from dresser corporation for $120,000 on september 20, 20x1, and resold 80 percent of the inventory to unaffiliated companies prior to december 31, 20x1, for $140,000. dresser produced the inventory sold to lorn for $75,000. lorn owns 70 percent of dresser’s voting common stock. the companies had no other transactions during 20x1. 3. what amount of consolidated net income will be assigned to the controlling interest for 20x1?

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

Cynthia is a hospitality worker in the lodging industry who prefers to cater to small groups of people. she might want to open a

Factors like the unemployment rate,the stock market,global trade,economic policy,and the economic situation of other countries have no influence on the financial status of individuals. true or false