Cadion co. owned a controlling interest in knieval inc. cadion reported sales of $420,000 during 2018 while knieval reported $280,000. inventory costing $28,000 was transferred from knieval to cadion (upstream) during the year for $56,000. of this amount, twenty-five percent was still in ending inventory at year's end. total receivables on the consolidated balance sheet were $112,000 at the first of the year and $154,000 at year-end. no intra-entity debt existed at the beginning or ending of the year. using the direct approach, what is the consolidated amount of cash collected by the business from its customers?

scenario: hawaii and south carolina are trading partners. hawaii has an absolute advantage in the production of both coffee and tea. the opportunity cost of producing 1 pound of tea in hawaii is 2 pounds of coffee, and the opportunity cost of producing 1 pound of tea in south carolina is 1/3 pound of coffee. which of the following statements is true? a. south carolina should specialize in the production of both tea and coffee. b. hawaii should specialize in the production of tea, whereas south carolina should specialize in the production of coffee. c. hawaii should specialize in the production of coffee, whereas south carolina should specialize in the production of tea. d. hawaii should specialize in the production of both tea and coffee.