Pitino acquired 90 percent of Brey's outstanding shares on January 1, 2019, in exchange for $351,000 in cash. The subsidiary's stockholders' equity accounts totaled $335,000, and the noncontrolling interest had a fair value of $39,000 on that day. However, a building (with a ten-year remaining life) in Brey's accounting records was undervalued by $15,000. 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 $65,000 in 2019 and $81,000 in 2020. Brey declared dividends of $19,500 in 2019 and $23,500 in 2020. Brey sells inventory to Pitino as follows: Cost to Brey $70,000 77,000 99,000 Year 2019 2020 2021 Inventory Remaining at Year-End (at transfer price) $26,000 38,000 40,000 Transfer Price to Pitino $120,000 140,000 165,000 At December 31, 2021, Pitino owes Brey $17,000 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. Pitino Brey Sales revenues $ (864,000) $(371,000) Cost of goods sold 516,000 210,000 Expenses 185,500 60,000 Equity in earnings of (81,540) 0 Brey Net income $ (244,040) $(101,000) Retained earnings, $ 1/1/21 (490,000) $(280,000) Net income (above) (244,040) (101,000) Dividends declared 130,000 20,000 Retained earnings, $ 12/31/21 (604,040) $(361,000) Cash and receivables $ 147,000 $ 99,000 Inventory 260,000 141,000 Investment in Brey 471,150 0 Land, buildings, and equipment (net) 965,000 329,000 Total assets $ 1,843, 150 $ 569,000 Liabilities $ (719, 110) $ (50,000) Common stock (520,000) (158,000) Retained earnings, 12/31/21 (604,040) (361,000) Total liabilities and $(1,843,150) $(569,000) equity a. What was the annual amortization resulting from the acquisition-date fair-value allocations? b. Were the intra-entity transfers upstream or downstream? c. What intra-entity gross 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 $81,540 Equity Earnings of Brey account balance for 2021? f. What is the net income attributable to the noncontrolling interest for 2021? g. What amounts make up the $471,150 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. i. Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies. Pitino acquired 90 percent of Brey's outstanding shares on January 1, 2019, in exchange for $351,000 in cash. The subsidiary's stockholders' equity accounts totaled $335,000, and the noncontrolling interest had a fair value of $39,000 on that day. However, a building (with a ten-year remaining life) in Brey's accounting records was undervalued by $15,000. 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 $65,000 in 2019 and $81,000 in 2020. Brey declared dividends of $19,500 in 2019 and $23,500 in 2020. Brey sells inventory to Pitino as follows: Cost to Brey $70,000 77,000 99,000 Year 2019 2020 2021 Inventory Remaining at Year-End (at transfer price) $26,000 38,000 40,000 Transfer Price to Pitino $120,000 140,000 165,000 At December 31, 2021, Pitino owes Brey $17,000 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. Pitino Brey Sales revenues $ (864,000) $(371,000) Cost of goods sold 516,000 210,000 Expenses 185,500 60,000 Equity in earnings of (81,540) 0 Brey Net income $ (244,040) $(101,000) Retained earnings, $ 1/1/21 (490,000) $(280,000) Net income (above) (244,040) (101,000) Dividends declared 130,000 20,000 Retained earnings, $ 12/31/21 (604,040) $(361,000) Cash and receivables $ 147,000 $ 99,000 Inventory 260,000 141,000 Investment in Brey 471,150 0 Land, buildings, and equipment (net) 965,000 329,000 Total assets $ 1,843, 150 $ 569,000 Liabilities $ (719, 110) $ (50,000) Common stock (520,000) (158,000) Retained earnings, 12/31/21 (604,040) (361,000) Total liabilities and $(1,843,150) $(569,000) equity a. What was the annual amortization resulting from the acquisition-date fair-value allocations? b. Were the intra-entity transfers upstream or downstream? c. What intra-entity gross 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 $81,540 Equity Earnings of Brey account balance for 2021? f. What is the net income attributable to the noncontrolling interest for 2021? g. What amounts make up the $471,150 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. i. Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies