Complete this question by entering your answers in the tabs below. 5 Req A to D Req E ReqF Req G ReqH ReqI What amounts make up the $427,780 Investment in Brey account balance as of December 3 Investment in Brey (consideration transferred) Net income of Brey $ 320,000 0 0 Pitino's ownership 80% 215,200 Dividends declared by Brey 0 80% $ 535,200 ECT 2 0 SO Help Save En Submit Problem 5-28 (Algo) (LO 5-1,5-2,5-3,5-4,5-5,5-7) Pitino acquired 80 percent of Brey's outstanding shares on January 1, 2019, in exchange for 5320.000 in cash. The subsidiary's stockholders' equity accounts totaled $304,000, and the noncontrolling Interest had a fair value of $80,000 on that day. However, a building with a eight-year remaining life) in Brey's accounting records was undervalued by $37.000. Pitino assigned the rest of the excess fair value over book value to Brey's patented technology (five-year remaining life). Bray reported net income from its own operations of76,000 in 2019 and $92,000 in 2020. Brey declared dividends of $25.000 in 2019 and $29,000 in 2020. Brey sells inventory to Pitino as follows: Tnventory Remaining at Transfer Price Year-End (at Year cost to y Pitino transfer prices 2019 161.000 3.175.000 $ 39.000 2020 107,250 195,000 49,500 2021 132.000 220,000 55,000 At December 31, 2021. Pitino owes Brey $28,000 for inventory acquired during the period. The following separate account balances are for these two companies for December 31, 2021, and the year then ended, Note. Parentheses indicate a credit balance. Pitino ray RADA74126.00 PROJECT #2 0 Help Save Submit 1 The following separate account balances are for these two companies for December 31, 2021, and the year then ended Note: Parentheses indicate a credit balance BE 100 BATE out of a try in motte to inco tid 17171 i ove Dividende He was 17/11/21 Cash and receives Tovary test rey land, sine. And Pitit 10,000) 410,000 301.000 225.000 116.600 2.00 10. 3253.810) 3123001 TT 1302.000 (297, 133,000 IND 10 # 3.0 36300,000 3 150.000 30X009 315.000 195.000 423.10 HO #1576.700 6,000 #672360001 (575.000 116.000) 62001 120,000 111.02.180) 6.000) Liabil CON Rwand warning: 12/11/21 Total lisandy What was the annual amortization resulting from the acquisition date fair value allocations? b. Were the intro-entity transfers upstream or downstream? c. What intra-entitygross profit in inventory existed as of January 1, 20217 d. What intra-entitygross profit in inventory existed as of December 31, 2021? e. What amounts make up the $85,480 Equity Earnings of Brey account balance for 20212 r. What is the net income attributable to the noncontrolling interest for 2021 g. What amounts make up the $427.780 Investment in Brey account balance as of December 31, 20217 h. Prepare the 2021 worksheet entry to eliminate the subsidiary's beginning owners' equity balances L Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies Complete this question by entering your answers in the tabs below. 5 Req A to D Req E ReqF Req G ReqH ReqI What amounts make up the $427,780 Investment in Brey account balance as of December 3 Investment in Brey (consideration transferred) Net income of Brey $ 320,000 0 0 Pitino's ownership 80% 215,200 Dividends declared by Brey 0 80% $ 535,200 ECT 2 0 SO Help Save En Submit Problem 5-28 (Algo) (LO 5-1,5-2,5-3,5-4,5-5,5-7) Pitino acquired 80 percent of Brey's outstanding shares on January 1, 2019, in exchange for 5320.000 in cash. The subsidiary's stockholders' equity accounts totaled $304,000, and the noncontrolling Interest had a fair value of $80,000 on that day. However, a building with a eight-year remaining life) in Brey's accounting records was undervalued by $37.000. Pitino assigned the rest of the excess fair value over book value to Brey's patented technology (five-year remaining life). Bray reported net income from its own operations of76,000 in 2019 and $92,000 in 2020. Brey declared dividends of $25.000 in 2019 and $29,000 in 2020. Brey sells inventory to Pitino as follows: Tnventory Remaining at Transfer Price Year-End (at Year cost to y Pitino transfer prices 2019 161.000 3.175.000 $ 39.000 2020 107,250 195,000 49,500 2021 132.000 220,000 55,000 At December 31, 2021. Pitino owes Brey $28,000 for inventory acquired during the period. The following separate account balances are for these two companies for December 31, 2021, and the year then ended, Note. Parentheses indicate a credit balance. Pitino ray RADA74126.00 PROJECT #2 0 Help Save Submit 1 The following separate account balances are for these two companies for December 31, 2021, and the year then ended Note: Parentheses indicate a credit balance BE 100 BATE out of a try in motte to inco tid 17171 i ove Dividende He was 17/11/21 Cash and receives Tovary test rey land, sine. And Pitit 10,000) 410,000 301.000 225.000 116.600 2.00 10. 3253.810) 3123001 TT 1302.000 (297, 133,000 IND 10 # 3.0 36300,000 3 150.000 30X009 315.000 195.000 423.10 HO #1576.700 6,000 #672360001 (575.000 116.000) 62001 120,000 111.02.180) 6.000) Liabil CON Rwand warning: 12/11/21 Total lisandy What was the annual amortization resulting from the acquisition date fair value allocations? b. Were the intro-entity transfers upstream or downstream? c. What intra-entitygross profit in inventory existed as of January 1, 20217 d. What intra-entitygross profit in inventory existed as of December 31, 2021? e. What amounts make up the $85,480 Equity Earnings of Brey account balance for 20212 r. What is the net income attributable to the noncontrolling interest for 2021 g. What amounts make up the $427.780 Investment in Brey account balance as of December 31, 20217 h. Prepare the 2021 worksheet entry to eliminate the subsidiary's beginning owners' equity balances L Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies