Phone Corporation owns 80 percent of Smart Company's stock. At the end of 20x8, Phone and Smart reported the following partia! operating results and inventory balances: Phone Corporation $728,000 142.100 Smart Company 5528,000 242,100 24.000 Total sales Sales to Smart Company Sales to Phone Corporation Net Income Operating income (excluding investment incone from Smart) Inventory on hand, December 31, 20x8, purchased from Swart company Phone Corporation 74,000 48,420 Phone regularly prices its products at cost plus a 40 percent markup for profit. Smart prices its sales at cost plus a 20 percent markup The total sales reported by Phone and Smart include both intercompany sales and sales to nonaffiliates. Required: a. What amount of sales will be reported in the consolidated income statement for 20x8? Amount of b. What amount of cost of goods sold will be reported in the 20x8 consolidated income statement? (Do not round intermediate calculations and round your final answers to nearest whole dollar amount.) Amount of cont of goods solo c. What amount of consolidated net income and income to controlling Interest will be reported in the 20x8 consolidated income statement? Consolidated net income Income to controlling interest d. What balance will be reported for inventory in the consolidated balance sheet for December 31, 20x87 Inventory