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U . J 0 Turbo Inc. acquired 60% of Sugarland Co on January 1, 2018 At the time of acquisition total excess fair value was attributed to customer base and amorized a rate of $35,000 per year. During 2010. Turbo sold goods with a cost of $476,000 to Sugarland for 5680.000. Sugarland still owned 10% of the goods at the end of the year. In 2020. Turbo sold goods with a cost of $600,000 to Sugarland for $1.000.000 and Sugarland still owned 23% of the goods at year and in 2020, the companies had the following concen Turbo Sugarland Sales 4.100,000 2 B30 000 Cost of goods sold 2.500.000 1,680,000 Investment income Not given Net Income Not given 1 200.000 0 M V A 3 cand Requirements: (a) Compute the consolidated sales for 2020 option Answer (b) Compute the consolidated cost of goods sold for 2020 Answer: (c) Compute the non controlling interest's share in Sugarfand's income for 2020 Answer: (d) Assume that the intra-entity sales were upstream (.e. assume that it was Sugarland who sold inventory to Turbo), compute the noncontrolling interest's share in Sugarland's income for 2020, U . J 0 Turbo Inc. acquired 60% of Sugarland Co on January 1, 2018 At the time of acquisition total excess fair value was attributed to customer base and amorized a rate of $35,000 per year. During 2010. Turbo sold goods with a cost of $476,000 to Sugarland for 5680.000. Sugarland still owned 10% of the goods at the end of the year. In 2020. Turbo sold goods with a cost of $600,000 to Sugarland for $1.000.000 and Sugarland still owned 23% of the goods at year and in 2020, the companies had the following concen Turbo Sugarland Sales 4.100,000 2 B30 000 Cost of goods sold 2.500.000 1,680,000 Investment income Not given Net Income Not given 1 200.000 0 M V A 3 cand Requirements: (a) Compute the consolidated sales for 2020 option Answer (b) Compute the consolidated cost of goods sold for 2020 Answer: (c) Compute the non controlling interest's share in Sugarfand's income for 2020 Answer: (d) Assume that the intra-entity sales were upstream (.e. assume that it was Sugarland who sold inventory to Turbo), compute the noncontrolling interest's share in Sugarland's income for 2020