Portia Ltd. acquired 80% of Siro Ltd. on December 31, 20X0. At the date of acquisition, Siro's net assets totalled $15,000. Portia uses the cost method to record the acquisition and consolidates using the entity method. At December 31, 20X1, the separate-entity financial statements showed the following:

Portia Siro

Sales $25,000 12,000

Cost of goods sold 16,000 6,000

Operating expenses 4,800 2,400

Net income $ 4,200 $3,600

Cash $ 1,400 $ 2,000

Accounts receivable 10,600 8,500

Inventory 9,700 6,300

Net capital assets 17,300 7,700

Investment in Siro 12,000 -

$51,000 $24,500

Liabilities $15,800 $ 5,900

Common shares 20,000 10,000

Retained earnings 15,200 8,600

$51,000 $24,500

During 20X1, Siro sold $7,000 of goods, with a gross margin of 40%, to Portia. At the end of 20X1, $3,000 of the goods were still in Portia's inventory. What portion of consolidated net income for 20X1 is attributable to Portia?

A) $6,120

B) $6,240

C) $6,600

D) $7,080

During 20X1, Siro sold $7,000 of goods, with a gross margin of 40%, to Portia. At the end of 20X1, $3,000 of the goods were still in Portia's inventory. What is Portia's consolidated cost of goods sold for 20X1?

A) $13,800

B) $16,200

C) $16,800

D) $22,000

During 20X1, Siro sold $7,000 of goods, with a gross margin of 40%, to Portia. At the end of 20X1, $3,000 of the goods were still in Portia's inventory. What amount should be shown on the consolidated statement of financial position for the non-controlling interest at December 31, 20X1?

A) $720

B) $1,720

C) $3,480

D) $3,720