Pitino acquired 90 percent of Brey's outstanding shares on January 1, 2019, in exchange for $513,000 in cash. The subsidiary's stockholders' equity accounts totaled $497,000, and the noncontrolling interest had a fair value of $57000 on that day. However, a building with a ten-year remaining life in Brey's accounting records was undervalued by $51,000. Pitino assigned the rest of the excess fair value over book value to Brey's patented technology (five-year remaining life). Brey reported net income from its own operations of $83,000 in 2019 and $99.000 in 2020. Brey declared dividends of $28,500 in 2019 and $32,500 in 2020. Brey sells inventory to Pitino as follows: Year 2019 2020 2021 Cost to Brey $ 88,000 161.000 127,500 Inventory Remaining at Transfer Price Year-End (at to Pitino transfer price $ 210,000 $ 44,000 230.000 56,500 255,000 55,000 At December 31, 2021, Pitino owes Brey $35,000 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 Brey $ $ 5 Sales revenuen Cont of goods sold Expenses Equity in earnings of Brey Net Income Retained earnings, 1/1/21 Net Income (above) Dividends declared detained earnings, 12/31/21 Cash and receivables Laventory Investorent in Bray Land, buildings, and equipment (net) Pitino (900,000) (461,000) 534,000 228,000 187,300 96,000 (105,255) 0 (283,955) 5(137,000) (526,000) $(316,000) (283,955) (137,000) 248.000 55,000 (661,955) 5(398,000) 165,000 $ 117,000 350,000 255,000 645,300 0 983,000 347,000 $ $ 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 $ (900,000) $ (461,000) 534,000 228,000 187,300 96,000 (105,255) 0 $ (283,955) $(137,000) $ (526,000) $(316,000) 33,955) (137,000) 148,000 55,000 $ (661,955) $(398,000) $ 165,000 $ 117,000 350,000 255,000 645,300 0 983,000 347,000 $ 2,143,300 $ 719,000 $ (871,345) $ (19,000) (610,000) (302,000) (661,955) (398,000) $12, 143, 300) $4719,000) 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 $105,255 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 $645,300 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. Complete this question by entering your answers in the tabs below. Reg A to D ReqE ReqF Req G ReqH Req1 a. What was the annual amortization resulting from the acquisition date falr-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 ested as of December 31, 2021? e. What amounts make up the $105,255 Equity Earnings Brey account balance for 2021? f. What is the net income attributable to the noncontrolling interest for 2021? g. What amounts make up the $645,300 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, 1. Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies Complete this question by entering your answers in the tabs below. Reg A to D Req Reg F Reg Reg Regt 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? Show less a Annual amortization b. Intra-entity transfers cintra-entitygross profit, January 1, 2021 d Intra-entitygross profit. December 31, 2021 RAQA100 ReqE > 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 xisted as of January 1, 2021? d. What intra-entity gross profit in inventory existed as December 31, 2021? e. What amounts make up the $105,255 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 $645,300 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. 1. Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies Complete this question by entering your answers in the tabs below. Reg A to D Reg E RegF Rea G Reg H Reg 1 What amounts make up the $105,255 Equity Earnings of Brey account balance for 2021? Total assets Tiabilities Comos stock Retained earnings, 12/91/21 Total liabilities and equity $ 2,143,300 31719,000 $ (871,345) 19.000) (610,000) 302,000 1561955) (398,000 $(2.143,300 (719.000 a. What was the annual amortization resulting from the acquisition date falr-value allocations? b. Were the intra-entity transfers upstream or downstream? c. What intra-entity gross profit in inventory existed as of January 1, 20212 d. What intra-entity gross profit in inventory existed as of December 31, 2021? e. What amounts make up the $105,255 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 $645,300 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 1. Without preparing a worksheet or consolidation entries, determine the consolidation balonces for these two companies. Complete this question by entering your answers in the tabs below. Reg A to D ReqE Reg F Reg G Red H Reg! What is the net income attributable to the noncontrolling interest for 2021? Not income attributable to noncontrolling interest 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 $105,255 Equity Eurnings of By account balance for 2021? f. What is the net income attributable to the noncontrolling interest for 20212 g. What amounts make up the $645,300 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. L. Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies. Complete this question by entering your answers in the tabs below. Reg A to D Regt Red E Regt Reg G Reg What amounts make up the $645,300 Investment in Brey account balance as of December 31, 20217 Investment in Brey (consideration transferred) Net Income of Brey Dividends dedared by Brey Complete this question by entering your answers in the tabs below. Req Ato D RegE Rea F ReqG RegH Reg Prepare the 2021 worksheet entry to eliminate the subsidiary's beginning owners equity balances. (If no entry is required for a transaction/event, select "No journal entry requed" in the account hela.) view transaction list Consolidation Worksheet Entries