Saved Help Save & Exit Check my workCheck My Work button is now enabled Assume that Protrade sells Seacraft inventory at a markup equal to 60 percent of cost. Intra-entity transfers were $91,000 in 2020 and $111,000 in 2021. Of this inventory, Seacraft retained and then sold $29,000 of the 2020 transfers in 2021 and held $43,000 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 Assume that Seacraft sells inventory to Protrade at a markup equal to 60 percent of cost. Intra-entity transfers were $51,000 in 2020 and $81,000 in 2021. Of this inventory, $22,000 of the 2020 transfers were retained and then sold by Protrade in 2021, whereas $36,000 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 Protrade sells Seacraft a building on January 1, 2020, for $82,000, although its book value was only $51,000 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

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