provide calculations

QUESTION 1 Shalles Corporation, a 70 percent owned subsidiary of Pani Corporation, sold inventory items to its parent at a $180,000 profit in 2014. Pani resold one fourth of this inventory to outside entities. Shalles reported net income of $350,000 for 2014. By what amount should the combined inventories of Shalles and Pani be reduced to find the consolidated inventory? QUESTION 2 On January 1, 2017, Plastam Industries acquired an 70 percent interest in Sparta Company to assure a steady supply of Sparta's inventory that Plastam uses in its own manufacturing businesses. Sparta sold 90 percent of its output to Plastam during 2017 and 2018 at a markup of 115 percent of Sparta's cost. Plastar had $22,000 of these items remaining in its inventory at December 31, 2018. If Plastam neglected to eliminate unrealized profits from all intercompany sales from Sparta, the inventory on the consolidated balance sheet at December 31, 2018 was overstated or understated by how much? Use a negative signifit is understated. QUESTION 3 Pew Corporation acquired 60 percent ownership of Sordid Incorporated, at a time when Pew's investment cost was equal to 60 percent of Sordid's book value. At the time of acquisition, the book values and fair values of Sordid's assets and liabilities were equal. Pew uses the equity method. During 2017, Pew sold goods to Sordid for $190,000 making a gross profit percentage of 25 percent. One-third of these goods remained unsold in Sordid's inventory at the end of the year. Income statement information for Pew and Sordid for 2017 were as follows: Company Pew Sordid Sales Revenue $820,000 $450,000 Cost of Goods Sold 400,000 290,000 Operating Expenses 160.000 50.000 Separate incomes $260.000 $110.000 What is Pew's income from Sordid for 2017? QUESTION 4 Pew Corporation acquired 70 percent ownership of Sordid Incorporated, at a time when Pew's investment cost was equal to 70 percent of Sordid's book value. At the time of acquisition, the book values and fair values of Sordid's assets and liabilities were equal. Pew uses the equity method. During 2016, Pew sold goods to Sordid for $220,000 making a gross profit percentage of 15 percent. One-fifth of these goods remained unsold in Sordid's inventory at the end of the year. Income statement information for Pew and Sordid for 2016 were as follows: Company Pew Sordid Sales Revenue $680,000 $360,000 Cost of Goods Sold 300,000 100,000 Operating Expenses 180,000 100.000 Separate incomes $200.000 $160.000 What is the unrealized profit in the December 31, 2016 inventory? QUESTION 5 Pelga Company routinely receives goods from its 90 percent owned subsidiary, Swede Corporation. In 2017, Swede sold merchandise that cost $55,000 to Pelga for $100,000. One-third of this merchandise remained in Pelga's December 31, 2017 inventory. This inventory was sold in 2018. During 2018, Swede sold merchandise that cost $56,000 to Pelga for $140,000. $116,000 of the 2018 merchandise inventory remained in Pelga's December 31, 2018 inventory. Selected income statement information for the two affiliates for the year 2018 was as follows: Company Pelga Swede Sales Revenue $269,000 $229,000 Cost of Goods Sold 205.000 182.000 Gross profit $64,000 $47,000 Consolidated cost of goods sold for Pelga and Subsidiary for 2018 were