Protrade Corporation acquired 70 percent of the outstanding voting stock of Seacraft Company on January 1, 2014, for $430,500 in cash and other consideration. At the acquisition date, Protrade assessed Seacraft's identifiable assets and liabilities at a collective net fair value of $745,000 and the fair value of the 30 percent noncontrolling interest was $184,500. No excess fair value over book value amortization accompanied the acquisition. The following selected account balances are from the individual financial records of these two companies as of December 31, 2015 Seacraft $ 860,000 $580,000 400,000 307,000 127,000 400,000 132,000 179,000 Protrade Sales Cost of goods sold Operating expenses Retained earnings, 1/1/15 Inventory Buildings (net) Investment income 172,000 960,000 368.000 380.000 Not given Each of the following problems is an independent situation a. Assume that Protrade sells Seacraft inventory at a markup equal to 60 percent of cost. Intra-entity transfers were $112,000 in 2014 and $132,000 in 2015. Of this inventory, Seacraft retained and thern sold $50,000 of the 2014 transfers in 2015 and held $64,000 of the 2015 transfers until 2016 Determine balances for the following items statements for 2015 that would appear on consolidated financial Cost of goods sold Inventory Net income attributable to noncontrolling interest$ 476,000 43,800