Several years ago Polar Inc. acquired an 80% interest in Icecap Co. The book values of Icecap's asset and liability accounts at that time were considered to be equal to their fair values. Polar's acquisition value corresponded to the underlying book value of Icecap 4. so that no allocations or goodwill resulted from the transaction. The following selected account balances were from the individual financial records of these two companies as of December 31, 2011: Polar Inc. Icecap Sales Cost of goods sold Operating expenses Retained earnings, 1/1/11 Inventory Buildings (net) Investment income S 896,000 504,000 406,000 276,000 147.000 252.000 154.000 220,000 210,000 1,036.000 484,000 501,000 not given Assume that Icecap sold inventory to Polar at a gross profit rate of 20%. Intra-entity transfers were $70,000 in 2010 and $112,000 in 2011. Of this inventory, $29,000 of the 2010 transfers were retained and then sold by Polar in 2011, whereas $49,000 of the 2011 transfers were held until 2012. Required For the consolidated financial staterments for 2011, determine the balances that would appear for the following accounts: (1) Cost of Goods Sold, (2) Inventory, and (3) Non-controlling Interest in Subsidiary's Net Income.(Total 9 points -3 points each)