Several years ago, Frozen Inc. acquired 90% of FOUR Co.s outstanding common stock. At that time, the book values of FOUR's asset and liability accounts were considered equal to their fair values. Frozen's acquisition value corresponded to the underlying book value of FOUR so that no excess fair value allocations or goodwill resulted from the transaction.

The following selected account balances are from the individual financial records of these two companies as of December 31, 2020:

Frozen Inc. FOUR Co.

Sales $ 920,000 $ 550,000

Cost of Goods Sold 520,000 350,000

Operating Expenses 210,000 147,000

Retained Earnings, 1/1 1,036,000 252,000

Inventory 484,000 154,000

Building, net 501,000 220,000

FOUR sells inventory to Frozen at a markup equal to 25% of cost. Intra-entity transfers were $140,000 in 2019 and $165,000 in 2020. Of this inventory, $40,600 of the 2019 transfers were retained and then sold by frozen in 2020. 30% of the 2020 transfers were held in inventory until 2021.

Determine the balances that would appear in the 2020 consolidated financial statements for the following accounts:

(a) Cost of Goods Sold:

(b) Inventory:

(c) Non-controlling Interest in Subsidiary's Net Income: