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The following Information pertain to Problems 1 - 3: Listed below are transactions between Pronto Corporation and its 75% owned Subsidiary Salient Corporation. The transactions are for the year 20112014 2010 - Pronto sold inventory to Salient. The cost of the inventory to Pronto was $60,000. The inventory was sold to Salient for $80,000. Salient had $40,000 worth of this inventory at the end of 2010 . All remaining inventory items were sold in 2011 . 2011 - Salient sold equipment with a four year useful life to Pronto on January 1 st for $60,000. The equipment had a book value of $40,000 at the time of sale. The equipment is still in use by Pronto at the end of 2013 (SL Depr used). 2012 - Pronto purchased $200,000 par value of Salient's 10% bonds in the bond market for $208,000 on Jamuary 1 , 2012. These bonds had a book value of $196,000 when acquired by Pronto and mature on January 1, 2016, Pronto Corporation and Subsidiary The following Information pertain to Problems 1 - 3: Listed below are transactions between Pronto Corporation and its 75% owned Subsidiary Salient Corporation. The transactions are for the year 20112014 2010 - Pronto sold inventory to Salient. The cost of the inventory to Pronto was $60,000. The inventory was sold to Salient for $80,000. Salient had $40,000 worth of this inventory at the end of 2010 . All remaining inventory items were sold in 2011 . 2011 - Salient sold equipment with a four year useful life to Pronto on January 1 st for $60,000. The equipment had a book value of $40,000 at the time of sale. The equipment is still in use by Pronto at the end of 2013 (SL Depr used). 2012 - Pronto purchased $200,000 par value of Salient's 10% bonds in the bond market for $208,000 on Jamuary 1 , 2012. These bonds had a book value of $196,000 when acquired by Pronto and mature on January 1, 2016, Pronto Corporation and Subsidiary