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1. Allison Corporation acquired 90 percent of Bretton on January 1, 2022. Of Bretton's total acquisitiondate fair value, $60,000 was allocated to undervalued equipment (with a 10 -year remaining life) and $80,000 was attributed to franchises (to be written off over a 20-year period). Since the takeover, Bretton has transferred inventory to its parent as follows: On January 1,2023, Allison sold Bretton a building for $50,000 that had originally cost $70,000 but had only a $30,000 book value at the date of transfer. The building is estimated to have a fiveyear remaining life (straight-line depreciation is used with no salvage value). Selected figures from the December 31, 2024, trial balances of these two companies are as follows