Pitino acquired 90 percent of Brey's outstanding shares on January 1, 2019, in exchange for $468,000 in cash. The subsidiary's stockholders' equity accounts totaled $452,000, and the noncontrolling interest had a fair value of $52,000 on that day. However, a building (with a ten-year remaining life) in Brey's accounting records was undervalued by $41,000. 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 $78,000 in 2019 and $94,000 in 2020. Brey declared dividends of $26,000 in 2019 and $30,000 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	$	83,000		$	185,000		$	39,000
2020		123,000			205,000			56,000
2021		115,000			230,000			65,000

At December 31, 2021, Pitino owes Brey $30,000 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	$	(890,000	)		$	(436,000	)
Cost of goods sold		529,000				223,000
Expenses		186,800				86,000
Equity in earnings of Brey		(96,660	)			0
Net income	$	(270,860	)		$	(127,000	)
Retained earnings, 1/1/21	$	(516,000	)		$	(306,000	)
Net income (above)		(270,860	)			(127,000	)
Dividends declared		143,000				50,000
Retained earnings, 12/31/21	$	(643,860	)		$	(383,000	)
Cash and receivables	$	160,000			$	112,000
Inventory		325,000				206,000
Investment in Brey		586,800				0
Land, buildings, and equipment (net)		978,000				342,000
Total assets	$	2,049,800			$	660,000
Liabilities	$	(820,940	)		$	(15,000	)
Common stock		(585,000	)			(262,000	)
Retained earnings, 12/31/21		(643,860	)			(383,000	)
Total liabilities and equity	$	(2,049,800	)		$	(660,000	)

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 $96,660 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 $586,800 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.