Protrade Corporation acquired $80$ percent of the outstanding voting stock of Seacraft Company on January $1,2020,$ for $$516,000$ in

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

fair value of $$645,000,$ and the fair value of the $20$ percent noncontrolling interest was $$129,000.$ 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 $31,2021$ :

Each of the following problems is on independent situation:

a$.$ Assume that Protrade sells Seacraft inventory at a markup equal to $60$ percent of cost$.$ Intra$-$entity transfers were $$102,000$ in $2020$

and $$122,000$ in $2021.$ Of this inventory, Seacraft retained and then sold $$40,000$ of the $2020$ transfers in $2021$ and held $$54,000$ of

the $2021$ transfers until $2022.$

Determine balances for the following items that would appear on consolidated financial statements for $2021$ :

Cost of Goods Sold

Inventory

Net Income Attributable to Noncontrolling Interest.

b$.$ Assume that Seacraft sells inventory to Protrade at a markup equal to $60$ percent of cost$.$ Intra$-$entity transfers were $$62,000$ in

$2020$ and $$92,000$ in $2021.$ Of this inventory, $$33,000$ of the $2020$ transfers were retained and then sold by Protrade in $2021,$

whereas $$47,000$ of the $2021$ transfers were held until $2022$

Determine balances for the following items that would appear on consolidated financial statements for $2021$ :

Cost of Goods Sold

Inventory

Net Income Attributable to Noncontrolling Interest.

c$.$ Protrade sells Seacraft a building on January $1,2020,$ for $$104,000,$ although its book value was only $$62,000$ 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 $2021$ :

Buildings $($net$)$

Operating Expenses

Net Income Attributable to Noncontrolling Interest.