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Player Company acquired 60 percent ownership of Scout Company's voting shares on January 1,202. During 205, Player purchased inventory for $20,000 and sold the full
Player Company acquired 60 percent ownership of Scout Company's voting shares on January 1,202. During 205, Player purchased inventory for $20,000 and sold the full amount to Scout Company for $30,000. On December 31,205, Scout's ending inventory included $6,000 of items purchased from Player. Also in 205, 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 31,205. 21 a Compute the amount to be reported as sales in the 205 consolidated income statement. Note: Use cells A2 and D19 from the given information to complete this question. b. Compute the amount to be reported as cost of goods sold in the 205 consolidated income statement. Note: Use cells A2 and D19 from the given information to complete this question. c What amount of income will be assigned to the noncontrolling shareholders in the 205 con-solidated income statement? Note: Use cells A2 and D19 from the given information to complete this question. 42 43 44 45 46 47 48 50 d What amount of income will be assigned to the controlling interest in the 205 consolidated income statement? 51 Note: Use cells A2 and D19 from the given information to complete this question. \begin{tabular}{|l|l|l|} \hline 52 & \multicolumn{2}{|l|}{ Reported net income of Player Company } \\ \hline 53 & Less: Income from Scout & \\ \hline 54 & Net income of Scout Company & \\ \hline 56 & Operating Income & \\ \hline 57 & Less: Unrealized inventory profits of Player & \\ \hline 58 & Less: Unrealized inventory profits of Scout & \\ \hline 59 & Income assigned to noncontrolling interest & \\ \hline 60 & Income assigned to controlling interest & \\ \hline \end{tabular}
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