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4 88/10 Boit were Pitino acquired 90 percent of Brey's outstanding shares on January 1, 2019. in exchange for $378,000 in cash. The subsidiary's stockholders' equity accounts totaled $362,000, and the noncontrolling interest had a fair value of $42,000 on that day. However, a building with a ten-year remaining life) in Brey's accounting records was undervalued by $21000 Po 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 of 568.000 in 2010 and $84.000 in 2020 Brey declared dividends of $20,000 in 2019 and $25,000 in 2020 Brey sells inventory to Prinot follows: Tiventory Transfer Price Year-End tot Retaining at Year Cost to Brey to Pitino transfer price 2015 $23,000 $ 135,000 $ 29,000 2020 93,000 155,000 41.500 2021 100,000 110,000 35,000 At December 31, 2021. Paino owes Drey $20,000 for viventory acquired during the period The following separato account balances are for these two companies for December 31 2021, and the year then ended Note: Parentheses indicate a credit balance Pitino Brey Sales revenues (70,000 (586,000 Cost of goods sold 519,00 213.000 Expenses 105,000 66.000 Equity in earnings of Grey 187,891 Net Income 1. (248,090150107,000) Retained earnings, 1/1/21 1690,00) 51200, Net Income (above) (248,090) (107.000) Dividends declared 113.000 22.000 Metained earnings, 12/31/23 $(611,290) $1370,000 Cash and receivables $ 150,00 102,000 Inventory 275,000 156,000 Investment in Brey 503,350 Land, bustdings, and equipment (net) 95.000 332,00 Total assets $ 1,896,550 $ 390,00 Liabilities $750,000,000 Connon stock 1535,00) (182,000) Retained earnings, 12/31/21 1611,90 20.000 Total Liabilities and equity 5(1,896,550) 5(590,000) h. Prepare the 2021 worksheet entry to eliminate the subsidiary's beginning owners' equity balance i. Without preparing a worksheet or consolidation entries, determine the consolidation balances fo Complete this question by entering your answers in the tabs below. Reg A to D ReqE ReqF Req Reg H Reg 1 Without preparing a worksheet or consolidation entries, determine the consolidation balances for these all amounts as positive values.) Consolidated Balance $ 1,076,000 IS 557,400 $ 261,300 $ $ X $ $ $ $ DI $ Sales revenues Cost of goods sold Expenses Equity in earnings of Brey Consolidated net income Noncontrolling interest in consolidated net income Consolidated net income to Pitino Retained earnings, 1/1/21 Dividends declared Retained earnings, 12/31/21 Cash and receivables Inventory Investment in Brey Land, buildings, and equipment (net) Patented technology Total Assets Liabilities Noncontrolling interest in Brey, 12/31/21 Common Stock Retained earnings, 12/31/21 Total liabilities and equity 9,210 248,090 496,000 133,000 611,090 232,000 409,000 + 0 1,314,700 $ $ $ $ $ s 750,460 $ $ 535,000 611,090 1,306,550 $ 4 88/10 Boit were Pitino acquired 90 percent of Brey's outstanding shares on January 1, 2019. in exchange for $378,000 in cash. The subsidiary's stockholders' equity accounts totaled $362,000, and the noncontrolling interest had a fair value of $42,000 on that day. However, a building with a ten-year remaining life) in Brey's accounting records was undervalued by $21000 Po 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 of 568.000 in 2010 and $84.000 in 2020 Brey declared dividends of $20,000 in 2019 and $25,000 in 2020 Brey sells inventory to Prinot follows: Tiventory Transfer Price Year-End tot Retaining at Year Cost to Brey to Pitino transfer price 2015 $23,000 $ 135,000 $ 29,000 2020 93,000 155,000 41.500 2021 100,000 110,000 35,000 At December 31, 2021. Paino owes Drey $20,000 for viventory acquired during the period The following separato account balances are for these two companies for December 31 2021, and the year then ended Note: Parentheses indicate a credit balance Pitino Brey Sales revenues (70,000 (586,000 Cost of goods sold 519,00 213.000 Expenses 105,000 66.000 Equity in earnings of Grey 187,891 Net Income 1. (248,090150107,000) Retained earnings, 1/1/21 1690,00) 51200, Net Income (above) (248,090) (107.000) Dividends declared 113.000 22.000 Metained earnings, 12/31/23 $(611,290) $1370,000 Cash and receivables $ 150,00 102,000 Inventory 275,000 156,000 Investment in Brey 503,350 Land, bustdings, and equipment (net) 95.000 332,00 Total assets $ 1,896,550 $ 390,00 Liabilities $750,000,000 Connon stock 1535,00) (182,000) Retained earnings, 12/31/21 1611,90 20.000 Total Liabilities and equity 5(1,896,550) 5(590,000) h. Prepare the 2021 worksheet entry to eliminate the subsidiary's beginning owners' equity balance i. Without preparing a worksheet or consolidation entries, determine the consolidation balances fo Complete this question by entering your answers in the tabs below. Reg A to D ReqE ReqF Req Reg H Reg 1 Without preparing a worksheet or consolidation entries, determine the consolidation balances for these all amounts as positive values.) Consolidated Balance $ 1,076,000 IS 557,400 $ 261,300 $ $ X $ $ $ $ DI $ Sales revenues Cost of goods sold Expenses Equity in earnings of Brey Consolidated net income Noncontrolling interest in consolidated net income Consolidated net income to Pitino Retained earnings, 1/1/21 Dividends declared Retained earnings, 12/31/21 Cash and receivables Inventory Investment in Brey Land, buildings, and equipment (net) Patented technology Total Assets Liabilities Noncontrolling interest in Brey, 12/31/21 Common Stock Retained earnings, 12/31/21 Total liabilities and equity 9,210 248,090 496,000 133,000 611,090 232,000 409,000 + 0 1,314,700 $ $ $ $ $ s 750,460 $ $ 535,000 611,090 1,306,550 $