Pitino acquired 90 percent of Brey's outstanding shares on January 1, 2019, in exchange for $540,000 in cash. The subsidiary's stockholders' equity accounts totaled $524,000, and the noncontrolling interest had a fair value of $60,000 on that day. However, a building (with a ten-year remaining life) in Brey's accounting records was undervalued by $32,000. 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 $86,000 in 2019 and $102,000 in 2020. Brey declared dividends of $30,000 in 2019 and $34,000 in 2020. Brey sells inventory to Pitino as follows: Year 2019 2020 Cost to Brey $ 91,000 122,500 2021 135,000 Transfer Price to Pitino $ 225,000 245,000 270,000 Inventory Remaining at Year-End (at transfer price) $ 47,000 59,500 50,000 At December 31, 2021, Pitino owes Brey $38,000 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. Sales revenues Cost of goods sold Expenses Equity in earnings of Brey Net income Retained earnings, 1/1/21 Net income (above) Dividends declared Retained earnings, 12/31/21 Cash and receivables Inventory Investment in Brey Land, buildings, and equipment (net) Total assets Liabilities Common stock Retained earnings, 12/31/21 Total liabilities and equity Pitino Brey $ (906,000) $ (476,000) 537,000 231,000 102,000 8 187,600 (120,195) $ (301,595) $ (143,000) $ (532,000) $ (322,000) (301,595) 151,000 (143,000) 58,000 $ (682,595) $ (407,000) $ 168,000 $ 120,000 365,000 667,260 986,000 280,000 350,000 $ 2,186,260 $ 750,000 $ (878,665) $ (17,000) (625,000) (326,000) (682,595) $(2,186,260) (407,000) $ (750,000) 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 $120,195 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 $667,260 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.