Question 16 40 pts Pepper Company acquired 80 percent ownership of Salt Corporation in 2018, at underlying book value. On that date, the fair value of non-controlling interest was equal to 20 percent of the book value of Salt Corporation. Pepper purchased inventory from Salt for $300,000 on August 20, 2018, and resold 75 percent of the inventory to unaffiliated companies on December 1, 2018, for $400,000 Salt produced the inventory sold to Pepper for $180,000. The companies had no other transactions during 2018 Given the facts presented, answer the following questions. Fill in the blanks with the amounts...no dollar sign and no commas needed! 1. What amount of sales will be reported in the 2018 consolidated income statement? 2. What is the amount of cost of goods sold that will be credited in the elimination/adjusting entry in the consolidating worksheet when preparing the 2018 consolidated income statement? 3. What is the inventory balance that will be reported in the consolidated balance sheet at December 31, 2018? 4. What is the amount of total consolidated riet income assigned to controlling interest for 2018