Hello,

The answer for noncontrolling interest in subsidiary, 12/31/21 is $987,000. Can you explain how they got that amswer?

Proform acquired 60 percent of ClipRite on June 30,2020, for $1,020,000 in cosh. Based on ClipRite's acquisition-date fair value, an unrecorded intangible of $600,000 was recognized and is being amortized at the rate of $15,000 per year. No goodwill was recognized in the acquistion, The noncontrolling interest fair value was assessed at $680,000 at the acquisition dote. The 2021 financial statements are as follows: Note: Parentheses indicate a credit batance) Proform sold ClipRite inventory costing $88,000 during the last six months of 2020 for $280,000. At year-end, 30 percent remained. Proform sold ClipRite inventory costing $295,000 during 2021 for $440,000. At year-end, 10 percent is left. Determine the consolidated balances for the following accounts: (Input all amounts as positive values.) Sales Cost of Goods Sold Operating Expenses Dividend Income Net Income Attributable to Noncontrolling Interest Inventory Noncontrolling Interest in Subsidiary, 12/31/21 \begin{tabular}{|l|lr|} \hline Sales & ConsolidatedBalance \\ \hline Cost of goods sold & $ & 1,530,000 \\ \hline Operating expenses & $ & 641,900 \\ \hline Dividend income & $ & 500,000 \\ \hline Net income attributable to noncontrolling interest & $ & 0 \\ \hline Inventory & $ & 110,000 \\ \hline Noncontrolling interest in subsidiary, 12/31/21 & $ & 1,355,500 \\ \hline \end{tabular}