Protrade Corporation acquired 80 percent of the outstanding voting stock of Seacraft Company on January 1,2020 , for $492,000 in cash and other consideration. At the acquisition date, Protrade assessed Seacraft's identifiable assets and liabilities at a collective net fair value of $615,000, and the fair value of the 20 percent noncontrolling interest was $123,000. 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 an independent situation: a. Assume that Protrade sells Seacraft inventory at a markup equal to 60 percent of cost. Intra-entity transfers were $99,000 in 2020 and $119,000 in 2021. Of this inventory, Seacraft retained and then sold $37,000 of the 2020 transfers in 2021 and held $51,000 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 $59,000 in 2020 and $89,000 in 2021 . Of this inventory, $30,000 of the 2020 transfers were retained and then sold by Protrade in 2021 , whereas $44,000 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 $98,000, although its book value was only $59,000 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) Oneratinn Fxnences \begin{tabular}{|l|l|} \hline a. & Cost of goods sold \\ \hline & Inventory \\ \hline & Net income attributable to noncontrolling interest \\ \hline b. & Cost of goods sold \\ \hline & Inventory \\ \hline & Net income attributable to noncontrolling interest \\ \hline c. & Buildings (net) \\ \hline & Operating expenses \\ \hline & Net income attributable to noncontrolling interest \\ \hline \end{tabular}