Plug Products owns 80 percent of the stock of Spark Filter Company, which it acquired at underlying book value on August 30, 20X6. At that date, the fair value of the noncontrolling Interest was equal to 20 percent of the book value of Spark Filter. Summarized trial balance data for the two companies as of December 31, 20X8, are as follows: Plug Products Debit Credit Cash and Accounts Receivable Inventory Buildings and Equipment (net) Investment in Spark Filter Company Cost of Goods Sold Depreciation Expense $145,000 220,000 270,000 Current Liabilities Common Stock Retained Earnings Sales Income from Spark Filter Company Spark Filter Company Debit $ 90,000 Credit 110,000 180,000 268,000 175,000 30,000 140,000 20,000 $ 150,000 $ 30,000 200,000 90,000 472,000 220,000 250,000 36,000 200,000 $ 1,108,000 $ 1,108,000 $ 540,000 $540,000 Total On January 1, 20X8, Plug's Inventory contained filters purchased for $60,000 from Spark Filter, which had produced the filters for $40,000. In 20x8, Spark Filter spent $100,000 to produce additional filters, which it sold to Plug for $150,000. By December 31, 20X8, Plug had sold all filters that had been on hand January 1, 20X8, but continued to hold in Inventory $45,000 of the 20X8 purchase from Spark Filter. Required: