perez inc owns 7000 shares 70 interest of salata companys 100 par value common stock the stock was purchased for 1250000

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Required:
A. Prepare the journal entries required in the books of Perez, Inc. during 2011.
B. Prepare in general journal form the workpaper entries necessary in the consolidated statements workpaper for the year ended December 31, 2011.
C. Prepare the workpaper entry to establish reciprocity to be made in the 2012 consolidated statements workpaper.

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