Following are several figures reported for Preston and Sanchez as of December 31, 2013:

          ________________________________________Preston ______________Sanchez

Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $400,000 ..................$200,000

Sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 800,000 ....................600,000

Investment income . . . . . . . . . . . . . . . . . . . . . . . . not given

Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . 400,000 ....................300,000

Operating expenses . . . . . . . . . . . . . . . . . . . . . . . . . 180,000 ....................250,000

Preston acquired 70 percent of Sanchez in January 2012. In allocating the newly acquired subsidiary's fair value at the acquisition date, Preston noted that Sanchez had developed a customer list worth $65,000 that was unrecorded on its accounting records and had a five-year remaining life. Any remaining excess fair value over Sanchez's book value was attributed to goodwill. During 2013, Sanchez sells inventory costing $120,000 to Preston for $160,000. Of this amount, 20 percent remains unsold in Preston's warehouse at year-end. For Preston's consolidated reports, determine the following amounts to be reported for the current year.

Inventory

Sales

Cost of Goods Sold

Operating Expenses

Noncontrolling Interest in the Subsidiary's Net Income