Pitino acquired 90 percent of Brey's outstanding shares on January 1, 2019, in exchange for $477,000 in cash. The subsidiary's stockholders' equity accounts totaled $461,000, and the noncontrolling interest had a fair value of $53,000 on that day. However, a building (with a ten-year remaining life) in Brey's accounting records was undervalued by $43,000. 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 $79,000 in 2019 and $95,000 in 2020. Brey declared dividends of $26,500 in 2019 and $30,500 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	$	84,000		$	190,000		$	40,000
2020		126,000			210,000			52,500
2021		164,500			235,000			70,000

At December 31, 2021, Pitino owes Brey $31,000 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	$	(892,000	)		$	(441,000	)
Cost of goods sold		530,000				224,000
Expenses		186,900				88,000
Equity in earnings of Brey		(106,380	)			0
Net income	$	(281,480	)		$	(129,000	)
Retained earnings, 1/1/21	$	(518,000	)		$	(308,000	)
Net income (above)		(281,480	)			(129,000	)
Dividends declared		144,000				51,000
Retained earnings, 12/31/21	$	(655,480	)		$	(386,000	)
Cash and receivables	$	161,000			$	113,000
Inventory		330,000				211,000
Investment in Brey		604,440				0
Land, buildings, and equipment (net)		979,000				343,000
Total assets	$	2,074,440			$	667,000
Liabilities	$	(828,960	)		$	(11,000	)
Common stock		(590,000	)			(270,000	)
Retained earnings, 12/31/21		(655,480	)			(386,000	)
Total liabilities and equity	$	(2,074,440	)		$	(667,000	)

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 $106,380 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 $604,440 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.