Player Company acquired 70 percent ownership of Scout Companys voting shares on January 1, 20X2. During 20X5, Player purchased inventory for $23,000 and sold the full amount to Scout Company for $33,000. On December 31, 20X5, Scouts ending inventory included $6,600 of items purchased from Player. Also in 20X5, Scout purchased inventory for $60,000 and sold the units to Player for $90,000. Player included $22,500 of its purchase from Scout in ending inventory on December 31, 20X5. Summary income statement data for the two companies revealed the following:

	Player Company						Scout Company
Sales		$	353,750					$	240,000
Income from Scout			69,750
		$	423,500					$	240,000
Cost of Goods Sold		$	244,000					$	105,000
Other Expenses			66,000						25,000
Total Expenses		$	(310,000	)				$	(130,000	)
Net Income		$	113,500					$	110,000

Required: a. Compute the amount to be reported as sales in the 20X5 consolidated income statement.

b. Compute the amount to be reported as cost of goods sold in the 20X5 consolidated income statement. (Do not round intermediate calculations.)

c. What amount of income will be assigned to the noncontrolling shareholders in the 20X5 consolidated income statement? (Do not round intermediate calculations.)

d. What amount of income will be assigned to the controlling interest in the 20X5 consolidated income statement? (Do not round intermediate calculations.)

answer parts A-D and can you provide some steps/ explain how you got the answer

Player Company acquired 70 percent ownership of Scout Company's voting shares on January 1, 20X2. During 20X5, Player purchased inventory for $23,000 and sold the full amount to Scout Company for $33,000. On December 31, 20X5, Scout's ending inventory included $6,600 of items purchased from Player. Also in 20X5, Scout purchased inventory for $60,000 and sold the units to Player for $90,000. Player included $22,500 of its purchase from Scout in ending inventory on December 31, 20X5. Summary income statement data for the two companies revealed the following: Scout Company $ 240,000 Sales Income from Scout Cost of Goods Sold Other Expenses Total Expenses Net Income Player Company $ 353, 750 69,750 $ 423,500 $ 244,000 66,000 $(310,000) $ 113,500 $ 240,000 $ 105,000 25,000 $(130,000) $ 110,000 Required: a. Compute the amount to be reported as sales in the 20x5 consolidated income statement. Consolidated sales