Pitino acquired 90 percent of Brey's outstanding shares on January 1, 2019. in exchange for $414,000 in cash. The subsidiary's stockholders' equity accounts totaled $398.000, and the noncontrolling interest had a fair value of $46,000 on that day. However, a building with a ten-year remaining life) in Brey's accounting records was undervalued by $29,000. 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 $72,000 in 2019 and $88.000 in 2020. Brey declared dividends of $23.000 in 2019 and $27.000 in 2020. Brey sells inventory to Pitino as follows: Year 2019 2020 2021 Cost to Brey $ 77,000 96,250 140, eee Transfer Price to Pitino $ 155, eee 175, eee 280,00 Inventory Remaining at Year-End (at transfer price) $ 33,080 45,000 75,000 At December 31, 2021. Pitino owes Brey $24,000 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 $ (878,8ee) $(406,880) 523,000 217,00 186,280 74,680 (91,440) 3 $ (260,240) $ (115,080) $ (584,880) $ (294,080) (260, 240) (115,880) 137,880 27,00 $ (627,240) $ (382,280) $ 154,00 $ 106,080 295, eee 176,000 541,845 972,Bee 336.ee $ 1,962,845 $ 618,00 $ (780,685) $ (22,880) (555, 800) (214,690) (627,240) (382,000) $(1,962,845) $ (618,080) .. 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 $91.440 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 $541.845 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. Reg A to D Reg E Reg F Reg G ReqH Reg! 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. b. Annual amortization Intra-entity transfers Intra-entity gross profit, January 1, 2021 Intra-entity gross profit, December 31, 2021 c. d. Req Ato D ReqE> Reg A to D Rea E Rea F Req G Reg H Reg! What amounts make up the $91,440 Equity Earnings of Brey account balance for 2021? %6 Complete this question by entering your answers in the tabs below. Reg A to D Reg E ReqF Reg G ReqH Reg 1 What is the net income attributable to the noncontrolling interest for 2021? Net income attributable to noncontrolling interest Reg A to D Red E Rea F Rea G Reg H Rea 1 What amounts make up the $541,845 Investment in Brey account balance as of December 31, 2021? Investment in Brey (consideration transferred) Net income of Brey % Dividends declared by Brey % Reg A to D Reg E Rec F Reg G Reg H 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 required" in the first account field.) view transaction list Consolidation Worksheet Entries Reg A to D Reg E Reg F Reg G ReqH ReqI Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies. (Input all amounts as positive values.) Consolidated Balance Sales revenues Cost of goods sold Expenses Equity in earnings of Brey Consolidated net income Noncontrolling interest in consolidated net income Consolidated net income to Pitino Retained earnings, 1/1/21 Dividends declared Retained earnings, 12/31/21 Cash and receivables Inventory Investment in Brey Land, buildings, and equipment (net) Patented technology Total Assets Liabilities Noncontrolling interest in Brey, 12/31/21 Common Stock Retained earnings, 12/31/21 Total liabilities and equity