Pitino acquired 90 percent of Brey's outstanding shares on January 1, 2019, in exchange for $504,000 in cash. The subsidiary's stockholders' equity accounts totaled $488,000, and the noncontrolling interest had a fair value of $56,000 on that day. However, a building (with a ten-year remaining life) in Brey's accounting records was undervalued by $49,000. 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 $82,000 in 2019 and $98,000 in 2020. Brey declared dividends of $28,000 in 2019 and $32,000 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 $ 87,000 $ 205,000 $ 43,000 2020 146,250 225,000 55,000 2021 137,500 250,000 50,000 At December 31, 2021, Pitino owes Brey $34,000 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 $ (898,000 ) $ (456,000 ) Cost of goods sold 533,000 227,000 Expenses 187,200 94,000 Equity in earnings of Brey (108,990 ) 0 Net income $ (286,790 ) $ (135,000 ) Retained earnings, 1/1/21 $ (524,000 ) $ (314,000 ) Net income (above) (286,790 ) (135,000 ) Dividends declared 147,000 54,000 Retained earnings, 12/31/21 $ (663,790 ) $ (395,000 ) Cash and receivables $ 164,000 $ 116,000 Inventory 345,000 250,000 Investment in Brey 635,895 0 Land, buildings, and equipment (net) 982,000 346,000 Total assets $ 2,126,895 $ 712,000 Liabilities $ (858,105 ) $ (23,000 ) Common stock (605,000 ) (294,000 ) Retained earnings, 12/31/21 (663,790 ) (395,000 ) Total liabilities and equity $ (2,126,895 ) $ (712,000 ) 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 $108,990 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 $635,895 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.