Klon Corporation owns $70$ percent of Brant Company's stock and $60$ percent of Torkel Company's stock. During $20$X$8,$ Klon sold inventory purchased in $20$X$7$ for $100,000$ to Brant for $$150,000.$ Brant then sold the inventory at its cost of $$150,000$ to Torkel. Prior to December $31,20$X$8,$ Torkel sold $$90,000$ of inventory to a non$-$affiliate for $$120,000$ and held $$60,000$ in inventory at December $31,20$X$8.$ Required: a$.$ Give the journal entries recorded by Klon, Brant, and Torkel during $20$X$8$ relating to the intercorporate sale and resale of inventory. b$.$ What amount should be reported in the $20$X$8$ consolidated income statement as cost of goods sold? c$.$ What amount should be reported in the December $31,20$X$8,$ consolidated balance sheet as inventory? d$.$Prepare the consoildation entry needed at December $31,20$X$8,$ to remove the effects of the inventory transfers.