ProForm acquired 70 percent of ClipRite on June 30, 2023, for $910,000 in cash. Based on Clip-Rite’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. No goodwill was recognized in the acquisition. The noncontrolling interest fair value was assessed at $390,000 at the acquisition date. The 2024 financial statements are as follows:

ProForm sold ClipRite inventory costing $72,000 during the last six months of 2023 for $120,000. At year-end, 30 percent remained. ProForm sold ClipRite inventory costing $200,000 during 2024 for $250,000. At year-end, 10 percent is left. With these facts, determine the consolidated balances for the following:

Sales

Cost of Goods Sold

Operating Expenses

Dividend Income

Net Income Attributable to Noncontrolling Interest

Inventory

Noncontrolling Interest in Subsidiary, 12/31/24

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Sales... Cost of goods sold Operating expenses Dividend income Net income Retained earnings, 1/1/24 Net income Dividends declared Retained earnings, 12/31/24 Cash and receivables Inventory..... .... Investment in ClipRite Fixed assets ..... Accumulated depreciation Totals Liabilities Common stock Retained earnings, 12/31/24. Totals ProForm $ (800,000) 535,000 100,000 (35,000) $ (200,000) $(1,300,000) (200,000) 100,000 $(1,400,000) $ 400,000 290,000 910,000 1,000,000 (300,000) $2,300,000 $ (600,000) (300,000) (1,400,000) $(2,300,000) ClipRite $ (600,000) 400,000 100,000 -0- $ (100,000) $ (850,000) (100,000) 50,000 $(900,000) $300,000 700,000 -0- 600,000 (200,000) $1,400,000 $ (400,000) (100,000) (900,000) $(1,400,000)