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.

Requlred:

What amount of sales will be reported in the consolidated income statement for $208?$

b$.$ What amount of cost of goods sold will be reported in the $208$ consolidated income statement?

Note: Do not round Intermedlate colculatlons and round your flnal answers to nearest whole dollar amount.

Amount of cost of goods sold

c$.$ What amount of consolidated net income and income to controlling interest will be reported in the $208$ 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 $31,208?$