Pitino acquired 90 percent of Breys outstanding shares on January 1, 2013, in exchange for $531,000 in cash. The subsidiarys stockholders equity accounts totaled $515,000 and the noncontrolling interest had a fair value of $59,000 on that day. However, a building (with a ten-year remaining life) in Breys accounting records was undervalued by $30,000. Pitino assigned the rest of the excess fair value over book value to Breys patented technology (six-year remaining life.

Brey reported net income from its own operations of $85,000 in 2013 and $101,000 in 2014. Brey declared dividends of $29,500 in 2013 and $33,500 in 2014.

What was the annual amortization resulting from the acquisition-date fair-value allocations?

Were the intra-entity transfers upstream or downstream?

What unrealized gross profit existed as of January 1, 2015?

What unrealized gross profit existed as of December 31, 2015? What amounts make up the $114,615 equity earnings of Brey account balance for 2015? What is the net income attributable to the noncontrolling interest for 2015? What amounts make up the $662,625 Investment in Brey account balance as of December 31, 2015?

Prepare the 2015 worksheet entry to eliminate the subsidiarys beginning owners equity balances.(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies.