Dithers Inc. acquired all of the common stock of Bumstead Corp. on January 1, 2011. During 2011, Bumstead sold land to Dithers at a gain. No consolidation entry for the sale of the land was made at the end of 2011. What errors will this omission cause in the consolidated financial statements?

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The Answer of Dithers Inc. acquired all of the common stock of Bumstead Corp. on January 1, 2011. During 2011, Bumstead sold land to Dithers at a gain. No consolidation entry for the sale of the land was made at the end of 2011. What errors will this omission cause in the consolidated financial statements?