Pitino acquired 80 percent of Brey's outstanding shares on January 1, 2019, in exchange for $320,000 in cash. The subsidiary's stockholders' equity accounts totaled $304,000, and the noncontrolling interest had a fair value of $80,000 on that day. However, a building with a eight year remaining life) in Brey's accounting records was undervalued by $37.000. Pitino assigned the rest of the excess fair value over book value to Brey's patented technology (five-year remaining fej Brey reported net income from its own operations of $76,000 in 2019 and $92,000 in 2020. Bray declared dividends of $25,000 in 2019 and $29,000 in 2020 Brey sells inventory to Pitino as follows: Inventory Remaining Transfer Price Year-End at coot to my to Pitino transfer prices 5 81,000 $175.000 $ 37.000 2020 107,250 195.000 49,500 2021 132,000 220.000 55.000 Year 2019 At December 31, 2021. Pitino owes Brey $28,000 for inventory acquired during the period. The following separate account balances are for these two companies for December 31, 2021, and the year then ended. Note: Parentheses indicate a credit balance. 1 At December 31, 2021, Pitino owes Brey $28,000 for inventory acquired during the period. The following separate account balances are for these two companies for December 31, 2021, and the year then ended Note: Parentheses indicate a credit balance 100 points Sales revences Cost of goods sold Expenses Equity Learning of brey Net Inne Metained earning, 1/1/21 Net Income (above) Dividende declared Hethined earning, 12/31/23 Cash and receivables Inventory Investment Ley taand, buildings and equipment that Total aanta Liabilities Connon stock Retained varnings. 12/31/21 Total liabilitles and equity Pitino Brey (886.000) 5(426.000) 527,000 221.000 186,600 12.000 105,480 0 $257,880) 3(325,000) (512,000) $6302,000) (257,680) 123,000) 161.000 31.000 $ 162,080) (394,000) 150,000 $ 110,000 335.000 196,000 427,700 . 976,000 240,000 1 1,376,900 646.000 5672,900) 16,000) (575.000) 116,000) (620.000.000 1,876.780) $646.000) a. What was the annual amortization resulting from the acquisition date fair value allocations? b. Wore the intra-entity transfers upstream or downstream? c. What intra-entitygross profit in inventory existed as of January 1, 2021? d. What intra-entity gross profit in inventory existed as of December 31, 2021? e. What amounts make up the $85 480 Equity Earnings of Brey account balance for 2021? f. What is the net income attributable to the noncontrolling interest for 2021 9. What amounts make up the $427780 Investment in Brey account balance as of December 31, 20212 h. Prepare the 2021 worksheet entry to eliminate the subsidiary's beginning owners' equity balances 1. Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies 1 WOLF WELL g. What amounts make up the $427,780 Investment in Brey account balance as of December 31, 2021? h. Prepare the 2021 worksheet entry to eliminate the subsidiary's beginning owners' equity balances 1. Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies Complete this question by entering your answers in the tabs below. 100 po Reg A to RE Reg Rego Reg Bet What amounts make up t4427,780 foveatment in Breaccount balance as of December 31, 2021? Investre in Brey consideration transferred) Net income of Brey O 0 30 Dividends declared by Brey D 80 5 0 SA RED SVEC DJECT #2 Req Ato D Red RoG Reg ReQH Feat 1 Prepare the 2021 worksheet entry to eliminate the subsidiary's beginning owners equity balances. (If no entry is required for transaction/event, select "No journal entry required in the first account field.) view transaction il Consolidation Worksheet Entries > 1 Prepare entry S Note: Enter debits before credits Debit Credit Accounts Transaction 1 view general Journal Record entry Clear entry Rog A to D ReqE Req Rega Reg P? I 1 Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies. (Input all amounts as positive values.) Consolidated Balance 100 points Sales revenues Cost of goods sold Expenses Equity in earnings of Brey Consolidated net income Noncontrolling interest in consolidated not income Consoldated net income to Pitino Retained coming. 11/21 Dividends declared Retained earnings 12/31/21 Cash and receivables Inventory Investment in Brey Land, buildings and equipment (not) Patented technology Total Assets Liabilities Noncontrolling interest in Brey, 12/31/21 Common Stock Retained earnings, 12/31/21 Total liabilities and equity