Yosef Corporation acquired 80% of the outstanding voting stock of Randeep Inc. on January 1 , Year 6 . During Year 6 , intercompany sales of inventory of $45,000 (original cost of $30,000 ) were made. Only 30% 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 $60,000 (original cost of $35,000 ) occurred in Year 7 . Of this merchandise, 20% 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 40%. 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: (Omit $ sign in your response.) (i) Consolidated net income (ii) Consolidated net income attributable to the controlling and non-controlling interest (iii) Deferred income tax asset (iv) Inventory (v) Net adjustment to retained earnings at beginning of year pertaining to intercompany sales (vi) Net adjustment to retained earnings at end of year pertaining to intercompany sales 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: (Omit $ sign in your response.) (i) Consolidated net income (ii) Consolidated net income attributable to the controlling and non-controlling interest (iii) Deferred income tax asset (iv) Inventory (v) Net adjustment to retained earnings at beginning of year pertaining to intercompany sales (vi) Net adjustment to retained earnings at end of year pertaining to intercompany sales (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). (Omit \$ sign in your response.)