Song Corporation was created on January 1, 20X0, to develop computer software. On January 1, 20X5, Polka Company purchased 90 percent of Songs common stock at underlying book value. At that date, the fair value of the noncontrolling interest was equal to 10 percent of Songs book value. Trial balances for Polka and Song on December 31, 20X9, are as follows:

	20X9 Trial Balance Data
	Polka Company							Song Corporation
Item	Debit			Credit				Debit			Credit
Cash	$	187,000						$	57,400
Accounts Receivable		80,000							90,000
Other Receivables		40,000							10,000
Inventory		137,000							130,000
Land		80,000							60,000
Buildings & Equipment		500,000							250,000
Investment in Song Corporation		234,900
Cost of Goods Sold		593,000							270,000
Depreciation Expense		45,000							15,000
Other Expenses		95,000							75,000
Dividends Declared		40,000							20,000
Accumulated Depreciation				$	155,000						$	75,000
Accounts Payable					63,000							35,000
Other Payables					95,000							20,000
Bonds Payable					250,000							200,000
Bond Premium												2,400
Common Stock					210,000							50,000
Additional Paid-in Capital					110,000
Retained Earnings					235,000							165,000
Sales					815,000							415,000
Other Income					26,000							15,000
Income from Song Corporation					72,900
Total	$	2,031,900		$	2,031,900			$	977,400		$	977,400

During 20X9, Song produced inventory for $20,000 and sold it to Polka for $30,000. Polka resold 60 percent of the inventory in 20X9. Also in 20X9, Polka sold inventory purchased from Song in 20X8. It had cost Song $60,000 to produce the inventory, and Polka purchased it for $75,000. Assume Polka uses the fully adjusted equity method. Required: a. What amount of cost of goods sold will be reported in the 20X9 consolidated income statement?

b. What inventory balance will be reported in the December 31, 20X9, consolidated balance sheet?

c. What amount of income will be assigned to noncontrolling shareholders in the 20X9 consolidated income statement?

d. What amount will be assigned to noncontrolling interest in the consolidated balance sheet prepared at December 31, 20X9?

e. What amount of retained earnings will be reported in the consolidated balance sheet at December 31, 20X9?

f. Prepare all consolidation entries required to prepare a three-part consolidation worksheet at December 31, 20X9. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)