Bennett acquired 70 percent of Zeigler on June 30, 2010, for $910,000 in cash. Based on Zeigler’s acquisition-date fair value, an unrecorded intangible of $400,000 was recognized and is being amortized at the rate of $10,000 per year. The noncontrolling interest fair value was assessed at $390,000 at the acquisition date. The 2011 financial statements are as follows:

Bennett sold Zeigler inventory costing $72,000 during the last six months of 2010 for $120,000.
At year-end, 30 percent remained. Bennett sells Zeigler inventory costing $200,000 during 2011 for $250,000. At year-end, 20 percent is left. With these facts, determine the consolidated balances for the accounts:

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Sales Cost of goods sold Operating expenses Dividend income Net income. Retained earnings, 1/1/11. Net income Dividends paid Retained earnings, 12/31/11 Cash and receivables Inventory... Investment in Zeigler Fixed assets Accumulated depreciation Totals Liabilities Common stock Retained earnings Totals Bennett $ (800,000) 535,000 100,000 (35,000) $ (200,000) $(1,300,000) Zeigler $ (600,000) 400,000 100,000 $ (100,000) $ (850,000) (100,000) 50,000 (200,000) 100,000 $(1,400,000) $ (900,000) $ 400,000 $ 300,000 290,000 910,000 1,000,000 (300,000) $ 2,300,000 $ (600,000) (300,000) (1,400,000) 700,000 -0 600,000 (200,000) $1,400,000 $ (400,000) (100,000) (900,000) $(2,300,000) $(1,400,000)