Foxx Corporation acquired all of Greenburg Companys outstanding stock on January 1, 2019, for $614,000 cash. Greenburgs accounting records showed net assets on that date of $457,000, although equipment with a 10-year remaining life was undervalued on the records by $111,000. Any recognized goodwill is considered to have an indefinite life. Greenburg reports net income in 2019 of $94,500 and $143,500 in 2020. The subsidiary declared dividends of $20,000 in each of these two years. Account balances for the year ending December 31, 2021, follow. Credit balances are indicated by parentheses. Foxx Greenburg Revenues $ (828,000 ) $ (764,000 ) Cost of goods sold 103,500 191,000 Depreciation expense 328,000