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Port Company ( Port ) purchased 7 0 % of the voting shares of Sail Ltd . ( Sail ) for $ 6 3 0

Port Company (Port) purchased 70% of the voting shares of Sail Ltd.(Sail) for $630,000 on January 1,2021. On that date, Sail's common shares and retained earnings were valued at $300,000 and $150,000 respectively. Unless otherwise stated, assume that Port uses the cost method to account for its investment in Sail.
Sail's fair values approximated its carrying values with the following exceptions:
The trademark had a fair value which was $80,000 higher than its carrying value.
The bonds payable had a fair value which was $30,000 higher than their carrying value.
The trademark had a useful life of twenty years remaining from the date of acquisition. The bonds payable mature on January 1,2041. Both companies use straight line amortization exclusively.
The financial statements of both companies for the year ended December 31,2023 are shown below:
Income Statements
Port Sail
Sales $640,000 $520,000
Other revenues 460,000160,000
Less: expenses
Cost of goods sold 480,000390,000
Depreciation expense 40,00020,000
Other expenses 80,00040,000
Income tax expense 250,000115,000
Net income $250,000 $115,000
Retained Earnings Statements
Port Sail
Balance, January 1,2023 $420,000 $330,000
Net income 250,000115,000
Less: dividends (50,000)(65,000)
Retained Earnings, Dec 31,2023 $620,000 $380,000
Balance Sheets
Port Sail
Cash $100,000 $90,000
Accounts receivable 270,000190,000
Inventory 350,000110,000
Investment in Sail 630,000
Equipment (net)520,000150,000
Land ------100,000
Trademark ------300,000
Total assets $1,870,000 $940,000
Current liabilities $300,000 $110,000
Bonds payable 450,000150,000
Common shares 500,000300,000
Retained earnings 620,000380,000
Total liabilities and equity $1,870,000 $940,000
Other Information:
A goodwill impairment test conducted in 2023 revealed that Sail's goodwill amount on the date of acquisition had been impaired by $5,000
During 2022, Port sold $60,000 worth of inventory to Sail, 80% of which was sold to outsiders during the year.
During 2023, Port sold inventory to Sail for $80,000.75% of this inventory was resold by Sail to outside parties during that year.
During 2022, Sail sold $100,000 worth of inventory to Port, 70% of which was sold to outsiders during the year.
During 2023, Sail sold inventory to Port for $120,000.60% of this inventory was resold by Port to outside parties during that year.
On April 1,2023, Port sold land to Sail for $190,000. Port originally acquired the land for $40,000 in 2015.
All intercompany sales as well as sales to outsiders are priced 25% above cost. The effective tax rate for both companies is 50%. Assume that any gain on the sale of land is fully taxable.
Prepare a schedule detailing the realized and unrealized before tax and after-tax profits or gains resulting from the intercompany transactions for 2023.

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