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: Akron Toledo Sales $1,100,000$600,000 Cost of goods sold 500,000400,000 Operating expenses 400,000220,000 Investment income Not given 0 Dividends declared 80,00030,000 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. Cost of Goods sold (seller) 17,500 Inventory 17.500 B. Net Income (seller) 17,500 Costs of goods sold 17,500 C. Accounts Receivable 17,500 Sales 17,500 D. Prior year Net Income (seller) 17,500 Costs of goods sold 17,500 E. More than one answer is correct. 12. How much cost of goods sold should be eliminated of intra entity of inventory for Entry G ? A. Not enough information to be determined. B. Not the requirement to be eliminated. C. $12,500 D. $11.500 E. $80,000 13. How much the consolidated net income Dec 31, 2018 ? A. $170,000 B. $171,000 C. $635,000 D. $175,000 E. $0 14. How much would be the ending balance of consolidated retained earnings ? (nearest balance) A. $42,500 B. $90,000 C. $10,000 D. $122,500 E. $152,500