interest in Kesler on January $1,2020,$ in exchange for various considerations totaling $$570,000.$ At the acquisition date, the fair value of the noncontrolling

interest was $$390,000$ and Keler's boak valuo was $$950,000.$ Keler had developed internally a customer list that was nat recordod on its bocks but had an

acquisition$-$date fair value of $$100,000.$ This intangible asset is being amortized aver $20$ years. Gilasen uses the partial equity method to acoount for its

investment in Keler.

Gibson sald Keler land with a book value of $$60,000$ on $,$lanuary $2,2020,$ for $$100,000.$ Keller still holds this land at the end of the current year.

Keller regularly translers inventory to Gibeon. In $2020,$ it shipped imventory costing $$100,000$ to Gbsan at a price of $$150,000.$ During $2021,$ intra$-$entily

shipments toilaled $$200,000,$ although the criginal cost to Keler was orily $$140,000.$ In each of these years, $20$ percent of the merchardise was not resold

to culside parties unfit the period folowing the Iransfer. Gibson owes Keler $$40,000$ at the end of $2021.$

a$.$ Prepare a workshees to consclidate the separate $2021$ financial statements for Cibson and Kellar.

of $$140,000$ to Keler for $$100,000$ instead of land, as the problem reports? Assume that the buiding had a $10-$ysar remaining life at the date of transfer.