1)Top Company holds 90 percent of Bottom Companys common stock. In the current year, Top reports sales of $862,000 and cost of goods sold of $646,500. For this same period, Bottom has sales of $363,000 and cost of goods sold of $235,950. During the current year, Bottom sold merchandise to Top for $110,000. The parent still possesses 30 percent of this inventory at the current year-end. Bottom had established the transfer price based on its normal gross profit rate. What are the consolidated sales and cost of goods sold?

2)Dunn Corporation owns 100 percent of Grey Corporations common stock. On January 2, 2017, Dunn sold to Grey $52,450 of machinery with a carrying amount of $41,000. Grey is depreciating the acquired machinery over a five-year remaining life by the straight-line method. The net adjustments to compute 2017 and 2018 consolidated net income would be an increase (decrease) of

3)

Redfield Company reports current earnings of $417,000 while declaring $32,000 in cash dividends. Snedeker Company earns $110,000 in net income and declares $8,000 in dividends. Redfield has held a 70 percent interest in Snedeker for several years, an investment with an acquisition-date excess fair over book value attributable solely to goodwill. Redfield uses the initial value method to account for these shares.

On January 1 of the current year, Snedeker acquired in the open market $66,400 of Redfields 8 percent bonds. The bonds had originally been issued several years ago for 92, reflecting a 10 percent effective interest rate. On the date of purchase, the carrying amount of the bonds payable was $62,800. Snedeker paid $59,200 based on a 12 percent effective interest rate over the remaining life of the bonds.

What is the noncontrolling interests share of consolidated net income?

4)Angela, Inc., holds a 90 percent interest in Corby Company. During 2017, Corby sold inventory costing $138,000 to Angela for $184,000. Of this inventory, $59,800 worth was not sold to outsiders until 2018. During 2018, Corby sold inventory costing $81,900 to Angela for $126,000. A total of $59,600 of this inventory was not sold to outsiders until 2019. In 2018, Angela reported separate net income of $197,000 while Corby's net income was $112,000 after excess amortizations. What is the noncontrolling interest in the 2018 income of the subsidiary