2. What is the consolidated Cost of Goods Sold in 2019 after all elimination?

Peanut Company purchased 65% of Salt Company on 1/1/18 for $55,250,000. The common stock of Salt was $45,000,000 and Retained Earnings $30,000,000 on that date. Any fair value/book value difference is attributable to goodwill. In 2018, Peanut sold inventory to Salt which cost Peanut $5,000,000 for a 40% markup on cost. Salt had 45% of the inventory on hand at 12/31/18. In 2019, Peanut sold inventory to Salt which cost Peanut $7,000,000 for a 40% markup on cost. Salt sold all of the remaining intercompany inventory from 2018 in 2019. It has 55% of the 2019 purchase on hand at 12/31/19. In 2019, combined cost of goods sold for Peanut and Salt before elimination entries is $25,000,000. S reported income of $6,000,000 and paid no dividends in 2019 The 2019 Investment income is: The 2019 NCI income is: in inventory in 2019, the consolidated balance sheet reports related to intercompany sales. The 2019 consolidated balance sheet reports goodwill of