(Solution) - Pam Corporation owns an 80 percent interest in the common -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Pam Corporation owns an 80 percent interest in the common stock of Sam Corporation, acquired several years ago at book value. Pam regularly sells merchandise to Sam. Information relevant to the intercompany sales and profits of Pam and Sam for 2011, 2012, and 2013 is as follows:

REQUIRED
Prepare a schedule showing consolidated net income for each year.