On January 1, Year 2, PAT Ltd. acquired 90 % of SAT Inc. when SAT's retained earnings were $1,500,000. 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 $210,000 in Year 2 and $240,000 in Year 3. The total amount owing by PAT related to these intercompany sales was $110,000 at the end of Year 2 and $100,000 at the end of Year 3. On January 1, Year 3, the inventory of PAT contained goods purchased from SAT amounting to $120,000, while the December 31, Year 3, inventory contained goods purchased from SAT amounting to $130,000. 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 900,000 920,000 1,700,000 3,100,000 2,300,000 250,000 Inventory Accounts payable Retained earnings, beginning of year Sales Cost of sales Income tax expense 560,000 1,200,000 3,000,000 4,600,000 3,700,000 , Required: (o) Determine the amount to report on the Year 3 consolidated financial statements for the selected accounts noted above. (Omit $ sign in your response.) Inventory Accounts payable Retained earnings, beginning of year Selected account balances from the records of PAT and SAT for the year ended December 31, Year 3, were as follows: PAT SAT Inventory Accounts payable Retained earnings, beginning of year Sales Cost of sales Income tax expense $ 560,e0e 1,200,00e 3,eee,eee 4,600,eee 3,700,000 se,e00 980,080 920,eee 1,700,00e 3,100,000 2,300,e0e 250,00 Required: (a) Determine the amount to report on the Year 3 consolidated financial statements for the selected accounts noted above. (Omit sign in your response.) Inventory Accounts payable Retained earnings, beginning of year Sales Cost of sales Income tax expense