Problem 5-5 (LO 5-2,5-3) Top Company holds 90 percent of Bottom Company's common stock. In the current year, Top reports sales of $860,000 and cost of goods sold of $688,000. For this same period, Bottom has sales of $360,000 and cost of goods sold of $216,000. During the current year, Top sold merchandise to Bottom for $160,000. The subsidiary still possesses 40 percent of this inventory at the current year-end. Top had established the transfer price based on its normal gross profit rate. What are the consolidated sales and cost of goods sold? Multiple Choice O $1,060,000 and $833,600, O $1060,000 and $756,800. 0 $1.060,000 and $769,600 0 0 $1,024,000 and $769,600