Yosef Corporation acquired $\backslash (80\backslash \%\backslash )$ of the outstanding voting stock of Randeep inc. on January $1,$ Year $6.$ During Year $6,$ intercompany sales of inventory of $\backslash (\backslash$$ $45,000\backslash )($original cost of $\backslash (\backslash$$ $30,000\backslash ))$ were made. Only $\backslash (30\backslash \%\backslash )$ of this inventory was still held within the consolidated entity at the end of Year $6$ and was sold in Year $7.$ Intercompany sales of inventory of $\backslash (\backslash$$ $60,000\backslash )($original cost of $\backslash (\backslash$$ $35,000\backslash ))$ occurred in Year $7.$ Of this merchandise, $\backslash (20\backslash \%\backslash )$ had not been resold to outside parties by the end of the year. At the end of Year $7,$ selected figures from the two companies' financial statements were as follows: Yosef uses the cost method to account for its investment in Randeep. Both companies pay income tax at the rate of $\backslash (40\backslash \%\backslash ).$ Required $($a$)$ Assume that all intercompany sales were upstream. Calculate the amount to be reported on the Year $7$ consolidated financial statements for the following accounts$/$items: i$)$Consolidated net income $($ii$)$ Consolidated net income attributable to the controlling and noncontrolling interest $($iii$)$ Deferred income tax asset $($iv$)$ Inventory $($v$)$ Assume Randeep's retained earnings at acquisition date January $1,$ Year $6$ was $\backslash (\backslash$$ $140,000\backslash ).$ Calculate the Parent's $($Yosef$\text{'}$s$)$ consolidated retained earnings balance at January $1,$ Year $7$ AND December $31,$ Year $7.($b$)$ Now assume that all intercompany sales were downstream. Calculate the amount to be reported on the Year $7$ consolidated financial statements for the accounts$/$items listed in part $($a$).$