Akron, Inc., owns all outstanding stock of Toledo Corporation. Amortization expense of $15,000 per year for patented technology resulted from the original acquisition. For 2018, the companies had the following account balances: Sales Cost of goods sold Operating expenses Investment income Dividends declared Akron Toledo $1,100,000 $600,000 500,000 400,000 400,000 220,000 Not given 80,000 30,000 Intra-entity sales of $320,000 occurred during 2017 and again in 2018. This merchandise cost $240,000 each year of the total transfers, $70,000 was still held on December 31, 2017, with $50,000 unsold on December 31, 2018 a. Prepare the consolidation entries required by Akron in 2018 b. Prepare a consolidated income statement for the year ending December 31, 2018