Homework: Considined PINCH SUBWEMENTS. UWER..... 5 65 Help Save & Exit House Corporation has been operating profitably since its creation in 1960. At the beginning of 2019, House acquired a 70 percent ownership in Wilson Company. At the acquisition date, House prepared the following fair-value allocation schedule: Check my w Consideration transferred for 70% interest in Wilson Fair value of the 30s noncontrolling interest Mileon business fair value Wilson book value Excess fair value over book value 742,000 318,000 $1,060,000 913,000 247,000 Assignments to adjust Wilson's assets to fair value: To buildings (20-year remaining life) ferences To goodwill (indefinite life) To equipment (4-year remaining life) To franchises (10-year remaining life) $ 97,000 (23,800) 73,000 146,200 $ 100,000 House regularly buys inventory from Wilson at a markup of 25 percent more than cost. House's purchases during 2019 and 2020 and related ending inventory balances follow: Intra-Entity Year 2019 2020 Purchases $135,000 162,500 Remaining Intra-Entity Inventory- End of Year (ot transfer price) $45,000 65,000 On January 1, 2021, House and Wilson acted together as co-acquirers of 80 percent of Cuddy Company's outstanding common stock. The total price of these shares was $274,400, indicating neither goodwill nor other specific fair-value allocations. Each company put un ane half of the rnneldaration traneforrad nurinn 2001 Hauea semuired additional inuantons from Wilenn at a price of f