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 2021, 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 2020 and again in 2021. This merchandise cost $240,000 each year. Of the total transfers, $70,000 was still held on December 31, 2020, with $50,000 unsold on December 31, 2021. a. For consolidation purposes, does the direction of the transfers (upstream or downstream) affect the balances to be reported here? b. Prepare a consolidated income statement for the year ending December 31, 2021. Required A Required B Prepare a consolidated Income statement for the year ending December 31, 2021. AKRON, INC. AND CONSOLIDATED SUBSIDIARY Income Statement Year Ending December 31, 2021 $ 0 $ 0