Pitino acquired 90 percent of Brey's outstanding shares on January 1, 2019, in exchange for $441,000 in cash. The subsidiary's stockholders' equity accounts totaled $425,000, and the noncontrolling interest had a fair value of $49,000 on that day. However, a building (with a ten-year remaining life) in Brey's accounting records was undervalued by $35,000. 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 $75,000 in 2019 and $91,000 in 2020. Brey declared dividends of $24,500 in 2019 and $28,500 in 2020.

Brey sells inventory to Pitino as follows:

Year	Cost to Brey			Transfer Price to Pitino			Inventory Remaining at Year-End (at transfer price)
2019	$	80,000		$	170,000		$	36,000
2020		114,000			190,000			48,500
2021		107,500			215,000			50,000

At December 31, 2021, Pitino owes Brey $27,000 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	$	(884,000	)		$	(421,000	)
Cost of goods sold		526,000				220,000
Expenses		186,500				80,000
Equity in earnings of Brey		(93,960	)			0
Net income	$	(265,460	)		$	(121,000	)
Retained earnings, 1/1/21	$	(510,000	)		$	(300,000	)
Net income (above)		(265,460	)			(121,000	)
Dividends declared		140,000				30,000
Retained earnings, 12/31/21	$	(635,460	)		$	(391,000	)
Cash and receivables	$	157,000			$	109,000
Inventory		310,000				191,000
Investment in Brey		572,400				0
Land, buildings, and equipment (net)		975,000				339,000
Total assets	$	2,014,400			$	639,000
Liabilities	$	(808,940	)		$	(10,000	)
Common stock		(570,000	)			(238,000	)
Retained earnings, 12/31/21		(635,460	)			(391,000	)
Total liabilities and equity	$	(2,014,400	)		$	(639,000	)

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, 2021?

What intra-entity gross profit in inventory existed as of December 31, 2021?

What amounts make up the $93,960 Equity Earnings of Brey account balance for 2021?

What is the net income attributable to the noncontrolling interest for 2021?

What amounts make up the $572,400 Investment in Brey account balance as of December 31, 2021?

Prepare the 2021 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.