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Patterson Company acquired an 80 interest in Granny Company on January 1, 2021 in exchange for various considerations totaling $720,000. At the acquisition date, the fair value of the noncontrolling interest was $180,000. Granny's book value of net assets on that date consisted of common stock of $390,000 and retained earnings of $410,000. Patterson attributed the excess of fair value over Granny's book value to undervalued equipment with a 10-year remaining life.

Reported net income for 2021 was $250,000 for Patterson and $100,000 for Granny. Patterson distributed $80,000 in dividends during 2021; Granny paid $30,000.

Granny regularly sells inventory to Patterson at a 20 percent gross profit rate. Patterson consistently resold this merchandise in the year of acquisition or in the period immediately following. Transfers for the two years after this business combination were the following:

Year	Transfer Price	Inventory Remaining at Year-End (at transfer price)
2021	$80,000	$15,000
2022	$90,000	$25,000

The following selected account balances are from the individual financial records of these two companies as of December 31, 2022

	Patterson	Granny
Sales	$900,000	$600,000
COGS	540,000	360,000
Operating Expenses	100,000	50,000
Dividend Paid	90,000	20,000
Inventory	240,000	120,000
Equipment (net)	400,000	150,000

Answer the following questions:

1. What is the amount of Equity in Granny Eanings for year 2022?

142,400

2. What is the amount of noncontrolling interest net income for 2022?

35,600

3. What was the balance of Investment in Granny on Patterson's book as of December 31, 2021?

765,600

4. Determine the consolidated balance of sales for 2022.

1,410,000

5. Determine the consolidated balance of cost of goods sold for 2022.

812,000

6. Determine the consolidated balance of operating expenses for 2022.

160,000

7. Determine the consolidated balance of inventory as of December 31, 2022.

355,000

8. Determine the consolidated balance of equipment as of December 31, 2022.

630,000