6) Sub Company sells all its output at 20 percent above cost to Par Corporation. Par purchases all its inventory from Sub. The incomes reported by the companies over the past three years are as follows: Sub Company's .'s Operating Income Year 2021 Net Income P 150,000 135,000 240,000 P 225,000 360,000 2022 2023 450,000 Sub Company sold inventory for P 300,000, P 262,500 and P 337,500 in the years 2021, 2022, and 2023 respectively. Par Company reported ending inventory of P 105,000, P 157,500 and P 180,000 for 2021, 2022, and 2023 respectively. Par acquired 70 percent of the ownership of Sub on January 1, 2021, at underlying book value. The fair value of the noncontrolling interest at the date of acquisition was equal to 30 percent of the book value of Sub Company. What will be the income to controlling interest for 2023? A. P 615,375 C. P 686,250 B. P 690,000 D. P 694,000 7) Clark Company had the following transactions with affiliated parties during 20X2: Sales of P 60,000 to Dean Inc., with P 20,000 gross profit. Dean had P 15,000 of this inventory on hand at year-end. Clark owns a 15 percent interest in Dean and does not exert significant influence. Purchases of raw materials totaling P 240,000 from Kent Corporation, a wholly owned subsidiary. Kent's gross profit on the sales was P48,000. Clark had P60,000 of this inventory remaining on December 31, 20x2. Before eliminating entries, Clark had consolidated current assets of P320,000. What amount should Clark report in its December 31, 20X2, consolidated balance sheet for current assets? A P320,000. C. P308,000 D. P303,000. B. P317,000