Several years ago, Polar Incorporated acquired an 80% interest in Icecap Company. 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 so that no allocations or goodwill resulted from the transfer. The following selected account balances were from the individual financial records of these two companies as of December 31 , 2023 : assume that Icecap sold inventory to Polar at a markup equal to 25% of cost. Intra-entity transfers were $70,000 in 2022 and $112,000 in 2023 . At the end of 2022 and 2023,40% of the current year purchases remain in Polar's inventory. Required: For the consolidated financial statements for 2023, determine the following: 1. Consolidated Cost of Goods Sold 2. Net income attributable to the noncontrolling interest. Activate Windows Go to Settings to activate Windows