Player Company acquired $60$ percent ownership of Scout Company$$s voting shares on January $1,20$X$2.$ During $20$X$5,$ Player purchased inventory for $$20,000$ and sold the full amount to Scout Company for $$30,000.$ On December $31,20$X$5,$ Scout$$s ending inventory included $$6,000$ of items purchased from Player. Also in $20$X$5,$ Scout purchased inventory for $$50,000$ and sold the units to Player for $$80,000.$ Player included $$20,000$ of its purchase from Scout in ending inventory on December $31,20$X$5.$

Summary income statement data for the two companies revealed the following:

Player Company Scout Company

Sales $ $400,000$ $ $200,000$

Income from Scout $20,500$

$ $420,500$ $ $200,000$

Cost of Goods Sold $ $250,000$ $ $120,000$

Other Expenses $70,00035,000$

Total Expenses $ $(320,000)$ $ $(155,000)$

Net Income $ $100,500$ $ $45,000$

Required:

Compute the amount to be reported as sales in the $20$X$5$ consolidated income statement.

Compute the amount to be reported as cost of goods sold in the $20$X$5$ consolidated income statement.

Note: Do not round intermediate calculations.

What amount of income will be assigned to the noncontrolling shareholders in the $20$X$5$ consolidated income statement?

Note: Do not round intermediate calculations.

What amount of income will be assigned to the controlling interest in the $20$X$5$ consolidated income statement?

Note: Do not round intermediate calculations.