Pilla Corporation acquired 80% ownership of Schilla Incorporated, at a time when Pilla's investment cost was equal to 80% of Schilla's book value. At the time of acquisition, the book values and fair values of Schilla's assets and liabilities were equal. Pilla uses the equity method. During 20X4, Pilla sold goods to Schilla for $160,000 making a gross profit percentage of 40%. Half of these goods remained unsold in Schilla's inventory at the end of the year. Income statement information for Pilla and Schilla for 20X4 were as follows: Pilla Schilla Sales Revenue $800,000 $300,000 Cost of Goods Sold 500,000 120,000 Operating Expenses 200,000 80,000 Separate incomes $100,000 $100,000 The 20X4 consolidated income statement showed cost of goods sold of: Select one: O a. $460,000 O b. $524,000 O c. $492,000 O d. $620,000 O e. $452,000