1. On 1/1/2016, Choco acquired 70% of Cake. Choco paid $700,000 and acquisition date fair value of non-controlling interest (NCI) is $300,000. On 1/1/2016, Choco allocated the entire $80,000 excess fair value over book value to adjust patented technology account (estimated remaining life of 10 years). During 2016, Choco sold goods to Cake for $200,000, which cost Choco $170,000. Cake still owns 50% of the goods at the end of 2016. Sales revenue for Choco is $1,200,000, and for Cake is $800,000 in 2016. Cost of goods sold for Choco is $700,000 and for Cake is $500,000 in 2016. Net income for Choco is $120,000 and for Cake is $70,000 in 2016. Cake declared $10,000 of dividends in 2016. Choco uses equity method to account for this investment

1. What is the consolidated sales revenue for 2016?

2. What is the consolidated cost of goods sold for 2016?

3. What is the non-controlling interests (NCIs) share of consolidated net income?