1.

Following are several figures reported for Lowell and Boston as of December 31, 2018: Inventory Sales Investment Income Cost of goods sold Operating expenses Lowell Boston $ 620,000 $ 420,000 1,240,000 1,040,000 not given 620,000 520,000 290,000 360,000 Lowell acquired 90 percent of Boston in January 2017. In allocating the newly acquired subsidiary's fair value at the acquisition date, Lowell noted that Boston had developed a customer list worth $80,000 that was unrecorded on its accounting records and had a 4- year remaining life. Any remaining excess fair value over Boston's book value was attributed to goodwill. During 2018, Boston sells inventory costing $142,000 to Lowell for $204,000. Of this amount, 10 percent remains unsold in Lowell's warehouse at year-end. Determine balances for the following items that would appear on Lowell's consolidated financial statements for 2018: Amounts Inventory Sales Cost of goods sold Operating expenses Net income attributable to noncontrolling interest