Allison Corporation acquired 90 percent of Bretton on January 1, 2016. Of Bretton's total acquisition-date fair value, $60,000 was allocated to undervalued equipment (with a 10-year remaining life) and $80,000 was attributed to franchises (to be written off over a 20-year period).

Since the takeover, Bretton has transferred inventory to its parent as follows:

YearCostTransfer PriceRemaining at Year-End2016 $45,000$90,000$30,000 (at transfer price)201748,00080,00035,000 (at transfer price)201869,00092,00050,000 (at transfer price)

On January 1, 2017, Allison sold Bretton 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, 2018, trial balances of these two companies are as follows:

AllisonBretton

Sales$700,000 $400,000

Cost of goods sold440,000220,000Operating expenses120,00080,000Investment incomeNot given0Inventory210,00090,000Equipment (net)140,000110,000Buildings (net)350,000190,000

Determine consolidated totals for each of these account balances.

Totals

Sales

Cost of goods sold

Operating expenses

Investment income

Inventory

Equipment (net)

Buildings (net)