Protrade Corporation acquired $80$ percent of the outstanding voting stock of Seacraft Company on January $1,2023,$ for $$588,000$ in

cash and other consideration. At the acquisition date, Protrade assessed Seacraft's identifiable assets and liabilities at a collective net

fair value of $$735,000,$ and the fair value of the $20$ percent noncontrolling interest was $$147,000.$ 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 $31,2024$:

Each of the following problems is an independent situation:

Required:

a$.$ Assume that Protrade sells Seacraft inventory at a markup equal to $40$ percent of cost$.$ Intra$-$entity transfers were $$111,000$ in $2023$

and $$131,000$ in $2024.$ Of this inventory, Seacraft retained and then sold $$49,000$ of the $2023$ transfers in $2024$ and held $$63,000$

of the $2024$ transfers until $2025.$

Determine balances for the following items that would appear on consolidated financial statements for $2024$:

Cost of Goods Sold

Inventory

Net Income Attributable to Noncontrolling Interest

b$.$ Assume that Seacraft sells inventory to Protrade at a markup equal to $40$ percent of cost$.$ Intra$-$entity transfers were $$71,000$ in $2023$

and $$101,000$ in $2024.$ Of this inventory, $$42,000$ of the $2023$ transfers were retained and then sold by Protrade in $2024,$ whereas

$$56,000$ of the $2024$ transfers were held until $2025.$

Determine balances for the following items that would appear on consolidated financial statements for $2024$:

Cost of Goods Sold

Inventory

Net Income Attributable to Noncontrolling Interest

c$.$ Protrade sells Seacraft a building on January $1,2023,$ for $$122,000,$ although its book value was only $$71,000$ on this date. The

building had a five$-$year remaining life and was to be depreciated using the straight$-$line method with no salvage value.

Determine balances for the following items that would appear on consolidated financial statements for $2024$:

Buildings $($net$)$

Operating Expenses

Net Income Attributable to Noncontrolling Interest