Protrade Corporation acquired 80 percent of the outstanding voting stock of Seacraft Company on January 1, 2014, for $464,000 in cash and other consideration. At the acquisition date, Protrade assessed Seacrafts identifiable assets and liabilities at a collective net fair value of $675,000 and the fair value of the 20 percent noncontrolling interest was $116,000. 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, 2015:

	Protrade			Seacraft
Sales	$	790,000		$	510,000
Cost of goods sold		365,000			272,000
Operating expenses		165,000			120,000
Retained earnings, 1/1/15		890,000			330,000
Inventory		361,000			125,000
Buildings (net)		373,000			172,000
Investment income		Not given			0

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 $105,000 in 2014 and $125,000 in 2015. Of this inventory, Seacraft retained and then sold $43,000 of the 2014 transfers in 2015 and held $57,000 of the 2015 transfers until 2016. Determine balances for the following items that would appear on consolidated financial statements for 2015:

Cost of goods sold Inventory Net income attributable to noncontrolling interest