Dynamic Golf Corporation manufactures and markets golf equipment. On January 1, 2020,

Dynamic acquires Sports Unlimited (Sports), a distributor of sports equipment. Dynamic's intention

for acquiring Sports is to have Sports be another outlet for the sale of Dynamic's golf equipment.

Dynamic paid cash of for 350,000 and 60 percent of Sports' outstanding common stock. Sports

book value on January 1, 2020 was $320,000. Common Stock was $100,000 and Retained Earnings

was $220,000.

On January 1, 2020, Sports held patents that were undervalued by 70,000. The patents have a

remaining life of 10. Additionally, Sports had a Customer List that was not recorded on the

books of Sports. The Customer List had a value of 50,000 and a remaining life of 10. Any

remaining excess of acquisition date fair value was assigned to Goodwill. No Goodwill has been

impaired during 2020 and 2021.

Intra-entity inventory sales from Dynamic to Sports are listed below:

Year	Transfer Price to Sports	Gross Profit Ratio on Transfers	Ending Inventory Balance (at transfer price)
2020	$150,000	20%	$50,000
2021	140,000	15%	$40,000

On January 1, 2021, Sports sold equipment to Dynamic for $55,000. Sports originally purchased the equipment for $60,000 and the equipment had a net book value of $30,000 on January 1, 2021. The equipment has a remaining useful life of 5. Both Dynamic and Sports use straight-line depreciation with no residual value. Sports recorded the gain on the equipment sales to Other Income and Deductions. Dynamic uses the equity method to account for its investment in Sports.

The Trial Balances of Dynamic and Sports on December 31, 2021 are attached below.

	Trial Balance
	December 31, 2021
	Debit / (Credit)
	Dynamic Golf	Sports Unlimited
Cash and Receivable	271,200	148,000
Inventory	233,000	129,000
Investment in Sports Unlimited	380,600	0
Buildings, net	308,000	202,000
Equipment, net	220,000	86,000
Patents	0	20,000
Customer List	0	0
Goodwill	0	0
Liabilities	(390,000)	(160,000)
Common Stock	(300,000)	(100,000)
Retained Earnings	(695,000)	(280,000)
NCI Interest	0	0
Dividends	45,000	15,000
Sales	(700,000)	(335,000)
Cost of Goods Sold	460,000	230,000
Operating Expense	188,000	70,000
Other Income & Deductions	0	(25,000)
Equity Earnings in Sports	(22,800)	0
Totals	0	0

1. How would I create an acquisition-date fair-value allocation schedule? I am struggling to find the NCI for this company.

2. What would be the consolidated journal entries for December 31, 2021.

3. How do I create an income distribution for 2021 for both companies?

Any guidance is greatly appreciated.