Silver Corporation owns 80 percent of Billy Company's stock. At the end of 20X8, Silver and Billy reported the following partial operating results and inventory balances: Silver Corporation Billy Company Total sales $735,000 $528,000 Sales to Billy Company $147,000 Inventory on hand $44,100 Silver regularly prices its products at cost plus a 40 percent markup for profit. Billy prices its sales at cost plus a 20 percent markup. The total sales reported by Silver include both intercompany sales and sales to nonaffiliates. What amount of cost of goods sold will be reported in the 20X8 consolidated income statement? (Hint: be sure to find the COGS amount reported separately by these two companies first!) $925,400. $865,600. $775,800. $830,600.