On January 2, Year 7, a parent with no prior equity interest in the acquiree purchased 90% of its 100,000 outstanding common shares for cash of $155,000. On that date, (1) the subsidiarys equity equaled $150,000, (2) the acquisition-date fair values of the subsidiarys assets and liabilities equaled their carrying amounts, and (3) the fair value of the noncontrolling interest (NCI) was 10% of the implied fair value of the acquiree.

For each of the following transactions, determine the dollar effect on Year 7 consolidated net income and enter the appropriate amounts in the designated cells below. Indicate negative numbers by using a leading minus (-) sign. Ignore income tax considerations.

Transaction	Amount
1. On January 3, Year 7, the subsidiary sold equipment with an original cost of $30,000 and a carrying amount of $15,000 to the parent for $36,000. The equipment had a remaining life of 3 years and was depreciated using the straight-line method by both companies.
		2. During Year 7, the subsidiary sold merchandise to the parent for $60,000, which included a profit of $20,000. At December 31, Year 7, half of this merchandise remained in the parents inventory.
				3. On December 31, Year 7, the parent paid $91,000 to purchase the outstanding bonds issued by the subsidiary. The bonds mature on December 31, Year 13, and were originally issued at their face amount of $100,000. The bonds pay interest annually on December 31 of each year, and the interest was paid to the prior investor immediately before the parents purchase of the bonds.
4. The parent recognized goodwill on January 2, Year 7. It determined on December 31, Year 7, that goodwill was not impaired.