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(16 points, 4 points each) The Derby Hat Company owns 60% of the voting share Shirt Works. During 20x2. Acme sold inventory costing $20,000 to

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(16 points, 4 points each) The Derby Hat Company owns 60% of the voting share Shirt Works. During 20x2. Acme sold inventory costing $20,000 to the Derby Ham for $28,000. The Derby Hat Company received a total of $40,000 when it resold of inventory to unaffiliated companies before the end of 20X2. The remaining 259 as inventory by the Derby Hat Company on December 31, 20x2. The remaining transaction during 20c2. HOW ALL COMPUTATIONS: a. What amount of sale will be reported by the consolidated entity for 20x2? b. What amount of cost of goods sold will be reported by consolidated entity for 20- c. What amount of income will be reported by consolidated entity for 20x2? d. What Inventory balance will be reported by the consolidated enmity on Decem 20x22

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