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 $57,000 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: Inventory Remaining at Transfer Price Year-End (at Year Cost to Brey to Pitino transfer price) 2019 $ 88, 000 $ 210, 000 $ 44, 000 2020 161, 000 230, 000 56, 500 2021 127, 500 255, 000 55, 000At 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. Pitino Brey Sales revenues $ (900,000) $(461,000) Cost of goods sold 534,000 228,000 Expenses 187,300 96,000 Equity in earnings of Brey (105,255) 0 Net income $ (283,955) $(137,000) Retained earnings, 1/1/21 $ (526,000) $(316,000) Net income (above) (283,955) (137,000) Dividends declared 148,000 55,000 Retained earnings, 12/31/21 $ (661,955) $(398,000) Cash and receivables $ 165,000 $ 117,000 Inventory 350,000 255,000 Investment in Brey 645,300 0 Land, buildings, and equipment (net) 983,000 347,000 Total assets $ 2.143.303 $ 719.000 Liabilities $ (871,345) $ (19,000) Common stock (610,000) (302,000) Retained earnings, 12/31/21 (661,955) (398,000) Total liabilities and equity $i2.143.300) $(719.000) 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. Req A to D Req E Req F Req G Req H Req I 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 Intra-entity transfers C. Intra-entity gross profit, January 1, 2021 d. Intra-entity gross profit, December 31, 2021Req A to D Req E Req F Req G Req H Req I What amounts make up the $105,255 Equity Earnings of Brey account balance for 2021? % Complete this question by entering your answers in the tabs below. Req A to D Req E Req F Req G Req H Req I What is the net income attributable to the noncontrolling interest for 2021? Net income attributable to noncontrolling interest Req E Req GReq A to D Req E Req F Req G Req H Req I What amounts make up the $645,300 Investment in Brey account balance as of December 31, 202: Investment in Brey (consideration transferred) Net income of Brey 0 0 % Dividends declared by Brey 0 % $ 0 Req F Req H >Prepare the 2021 worksheet entry to eliminate the subsidiary's beginning owners' equity balances. transaction/event, select "No journal entry required" in the first account field.) View transaction list 1 Prepare entry 5 /' Note : . = journal entry has been entered Record entry m view general journal Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies. all amounts as positive values.) Sales revenues Cost of goods sold Equity in earnings of Brey Consolidated net income Noncontrolling interest in consolidated net income Consolidated net income to Pitino Retained earnings, 111121 Dividends declared Retained earnings, 12131121 Inventory Investment in Brey Land, buildings, and equipment (net) Patented technology Total Assets Liabilities Noncontrolling interest in Brey, 12131121 Common Stock Retained earnings, 12131121 Total liabilities and equity Cash and receivables _