guilds inc guilds is a 100 percent owned subsidiary of nutak ltd nutak during the year ended august 31 2017 guilds sold merchandise costing 300000 to/

Required:
a. Prepare an income statement for Guilds for the year ended August 31, 2017.
b. What amount of accounts receivable would Guilds report on its August 31, 2017 balance sheet?
c. What amount of inventory and accounts payable would Nutak report on its August 31, 2017 balance sheet?
d. Prepare Nutak’s August 31, 2017 consolidated income statement assuming that intercompany transactions aren’t eliminated. How much would be reported for accounts receivable, inventory, and accounts payable on the August 31, 2017 consolidated balance sheet?
e. Prepare Nutak’s August 31, 2017 consolidated income statement assuming that intercompany transactions are eliminated. How much would be reported for accounts receivable, inventory, and accounts payable on the August 31, 2017 consolidated balance sheet?
f. Discuss the differences in the information you prepared in parts (d) and (e). Which information is more useful to stakeholders? Explain.