Dean Co. acquired 100% of Morey Corp. prior to 2006. During 2006, the individual companies included in their financial statements the following:
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|
Dean |
Morey |
|
|
Officers’ salaries |
$ 75,000 |
$50,000 |
|
Officers’ expenses |
20,000 |
10,000 |
|
Loans to officers |
125,000 |
50,000 |
|
Intercompany sales |
150,000 |
— |
What amount should be reported as related-party disclosures in the notes to Dean’s 2006 consolidated financial statements?
- $150,000
- $155,000
- $175,000
- $330,000