b$.$ Assume that Seacraft sells inventory to Protrade at a markup equal to $60$ percent of cost$.$ Intra$-$entity transfers were

$$62,000$ in $2020$ and $$92,000$ in $2021.$ Of this inventory, $$33,000$ of the $2020$ transfers were retained and then sold

by Protrade in $2021,$ whereas $$47,000$ of the $2021$ transfers were held until $2022.$

Determine balances for the following items that would appear on consolidated financial statements for $2021$:

Cost of Goods Sold

Inventory

Net Income Attributable to Noncontrolling InterestProtrade Corporation acquired $80$ percent of the outstanding voting stock of Seacraft Company on January $1,2020,$ for

$$516,000$ in cash and other consideration. At the acquisition date, Protrade assessed Seacraft's identifiable assets and

liabilities at a collective net fair value of $$645,000,$ and the fair value of the $20$ percent noncontrolling interest was

$$129,000.$ No excess fair value over book value amortization accompanied the acquisition.

The following selected account balances are from the individual financial records of these two companies as of

December $31,2021$: