1. Pa uses the cost method.
2. Assume a 40% corporate tax rate.
3. Son's sales during Year 6 include $70,000 of sales to Pa. Goods purchased from Son and included in Pa's inventories were $50,000 at the end of Year 5 and $30,000 at the end of Year 6. Son's gross profit margin to Pa is 30%.
4. During Year 6, Pa sold inventory that it had purchased for $80,000 to Son for $100,000. 35% of this inventory was resold by Son by December 31, Year 6.
5. On April 1, Year 6, Pa sold machinery to Son for $40,000. The carrying value of the machinery at the date of sale was $48,000. The remaining useful life of the machinery on that date was 4 years.
6. On January 1, Year 4, Son sold a building to Pa for $60,000. Son had purchased the building on January 1, Year 1 for $80,000 and it had an estimated 8 year life on that date with no salvage value.
7. On March 1, Year 6, Son borrowed $10,000 from Pa. The one-year note had interest rate of 6%. Both the principal and interest were payable at maturity.

This is accounting course BUSI 453 advanced accounting.

I need to make intercompany profit/gain and loss schedule for consolidated income

anyone can help please?