Pitino acquired 80 percent of Brey's outstanding shares on January 1, 2016, in exchange for $522000 in cash. The subsidiary's stockholders' equity accounts totaled $506000 and the noncontrolling interest had a fair value of $58000 on that day. However, a building (with a ten-year remaining life) in Brey's accounting records was undervalued by $28,000. Pitino assigned the rest of the excess fair value over book value to Brey's patented technology (four-year remaining life). Brey reported net income from its own operations of $84,000 in 2016 and $100,000 in 2017. Brey declared dividends of $29,000 in 2016 and $33,000 in 2017. Year Cost to Brey Transfer Price to Pitino Inventory Remaining at Year-End (at transfer price) 2016 $ 89,000 $ 215,000 $ 45,000 2017 141000 235,000 57000 2018 156000 260,000 60,000 At December 31, 2018, Pitino owes Brey $36,000 for inventory acquired during the period. The following separate account balances are for these two companies for December 31, 2018, and the year then ended. Note: Parentheses indicate a credit balance. Pitino Brey Sales revenues $ (902,000 ) $ (466,000 ) Cost of goods sold 535,000 229,000 Expenses 187,400 98,000 Equity in earnings of Brey (1111500 ) 0 Net income $ (290750 ) $ (139,000 ) Retained earnings, 1/1/18 $ (528,000 ) $ (318,000 ) Net income (above) (290,750 ) (139,000 ) Dividends declared 149,000 56,000 Retained earnings, 12/31/18 $ (669,750 ) $ (401,000 ) Cash and receivables $ 166,000 $ 118,000 Inventory 355,000 260,000 Investment in Brey 646,290 0 Land, buildings, and equipment (net) 984,000 348,000 Total assets $ 2,151,290 $ 726,000 Liabilities $ (866,540 ) $ (15,000 ) Common stock (615,000 ) (310,000 ) Retained earnings, 12/31/18 (669,750 ) (401,000 ) Total liabilities and equity $ (2,151,290 ) $ (726,000 ) What was the annual amortization resulting from the acquisition-date fair-value allocations? Were the intra-entity transfers upstream or downstream? What intra-entity gross profit in inventory existed as of January 1, 2018? What intra-entity gross profit in inventory existed as of December 31, 2018? What amounts make up the $59,540 Equity Earnings of Brey account balance for 2018? What is the net income attributable to the noncontrolling interest for 2018? What amounts make up the $456,000 Investment in Brey account balance as of December 31, 2018? Prepare the 2018 worksheet entry to eliminate the subsidiarys beginning owners equity balances. Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies.