Problem F Otis Corporation regularly sells merchandise to its 80%-owned subsidiary, Maeve Company. In 2022, Otis sold merchandise that cost P64,000 to Maeve Company for P80,000. Half of this merchandise remained in Maeve Company's December 31, 2022, inventory. During 2023, Otis sold merchandise that cost P100,000 to its subsidiary for P125,000.40\% of this merchandise inventory remained in the December 31,2023 , inventory. Selected income statement information for the two affiliates for the year 2023 is as follows: 14. In determining the balance of inventory on the consolidated statement of tinancial position for the year ended December 31,2022, how much is deducted on the combined amount of the parent and subsidiary inventory balance from the separate financial statements? 15. Determine the consolidated sales for 2023 16. Determine the consolidated cost of goods sold for 2023 Problem F Otis Corporation regularly sells merchandise to its 80%-owned subsidiary, Maeve Company. In 2022, Otis sold merchandise that cost P64,000 to Maeve Company for P80,000. Half of this merchandise remained in Maeve Company's December 31, 2022, inventory. During 2023, Otis sold merchandise that cost P100,000 to its subsidiary for P125,000.40\% of this merchandise inventory remained in the December 31,2023 , inventory. Selected income statement information for the two affiliates for the year 2023 is as follows: 14. In determining the balance of inventory on the consolidated statement of tinancial position for the year ended December 31,2022, how much is deducted on the combined amount of the parent and subsidiary inventory balance from the separate financial statements? 15. Determine the consolidated sales for 2023 16. Determine the consolidated cost of goods sold for 2023