On January 1, Jarel acquired 80 percent of the outstanding voting stock of Suarez for $260.000 cash consideration. The remaining 20 percent of Suarez had an acquisition-date fair value of $65,000. On January 1, Suarez possessed equipment (5-year remaining life) that was undervalued on its books by $25,000. Suarez also had developed several secret formulas that Jarel assessed at $50.000. These formulas, although not recorded on Suarez's financial records, were estimated to have a 20-year future life. As of December 31 , the financial statements appeared as follows: Included in the preceding statements, Jarel sold inventory costing $80.000 to Suarez for Page251 $100,000. Of these goods, Suarez still owns 60 percent on December 31. Compute the following amounts for the December 31 consolidated financial statements for Jarel and Suarez. a. Revenues b. Cost of goods sold c. Expenses d. Noncontrolling interest appearing on the balance sheet e. Equipment (net) f. Inventory