On January $1,$ Year $2,$ PAT Ltd$.$ acquired $90\%$ of SAT Inc. when SAT$$s retained earnings were $$890,000.$ There was no acquisition differential. PAT accounts for its investment under the cost method. SAT sells inventory to PAT on a regular basis at a markup of $30\%$ of selling price. The intercompany sales were $$140,000$ in Year $2$ and $$170,000$ in Year $3.$ The total amount owing by PAT related to these intercompany sales was $$40,000$ at the end of Year $2$ and $$30,000$ at the end of Year $3.$ On January $1,$ Year $3,$ the inventory of PAT contained goods purchased from SAT amounting to $$50,000,$ while the December $31,$ Year $3,$ inventory contained goods purchased from SAT amounting to $$60,000.$ Both companies pay income tax at the rate of $40\%.$

Selected account balances from the records of PAT and SAT for the year ended December $31,$ Year $3,$ were as follows:

PAT SAT

Inventory $ $490,000$ $ $290,000$

Accounts payable $590,000310,000$

Retained earnings, beginning of year $2,390,0001,090,000$

Sales $3,990,0002,490,000$

Cost of sales $3,090,0001,690,000$

Income tax expense $280,000350,000$

Required:

$($a$)$ Determine the amount to report on the Year $3$ consolidated financial statements for the selected accounts noted above. $($Input all amounts as positive values. Omit $ sign in your response.$)$

Inventory $

Accounts payable

Retained earnings, beginning of year

Sales

Cost of sales

Income tax expense