Anchovy acquired 90 percent ofYelton on January 1, 2009. Of Yelton’s total acquisition-date fair value, $60,000 was allocated to undervalued equipment (with a 10-year life) and $80,000 was attributed to franchises (to be written off over a 20-year period). LO8 Since the takeover, Yelton has transferred inventory to its parent as follows:

Year Cost Transfer Price 2009

$20,000

$ 50,000 2010 49,000 70,000 2011 50,000 100,000 Remaining at Year-End

$20,000 (at transfer price) 30,000 (at transfer price) 40,000 (at transfer price)

On January 1, 2010, Anchovy sold Yelton a building for $50,000 that had originally cost $70,000 but had only a $30,000 book value at the date of transfer. The building is estimated to have a five-year remaining life (straight-line depreciation is used with no salvage value).

Selected figures from the December 31,2011, trial balances ofthese two companies are as follows:

Sales.

Cost of goods sold . Operating expenses Investment income .

Anchovy Yelton

$600,000 $500,000 400,000 260,000 120,000 80,000 Not given -0-

Anchovy Yelton lnventory.220,000 80,000 Equipment (net).140,000 110,000 Buildings (net).350,000 190,000 Determine consolidated totals for each of these account balances.