Problem 5-29 (LO 5-2,5-3,5-4,5-5) Bennett acquired 70 percent of Zeigler on June 30, 2014, for $910,000 in cash. Based on Zeigler's acquisition-date fair value, only one unrecorded intangible of $400,000 was recognized and is being amortized at the rate of $10,000 per year. No goodwill was recognized in the acquisition. The noncontrolling interest fair value was assessed at $390,000 at the acquisition date. The 2015 financial statements are as follows: Sales Cost of goods sold Operating expenses Dividend income Bennett $ (800,000) 535,000 100,000 (35,000) $ (200,000) Zeigler $ (600,000) 400,000 100,000 0 Net income $ (100,000) Retained earnings, 1/1/15 Net income Dividends declared $(1,300,000) (200,000) 100,000 $ (850,000) (100,000) 50,000 Retained earnings, 12/31/15 $(1,400,000) $ (900,000) Cash and receivables Inventory Investment in Zeigler Fixed assets Accumulated depreciation $ 400,000 290,000 910,000 1.000.000 (300,000) $ 300,000 700,000 0 600,000 (200 000) Totals $ 2.300.000 $ 1,400,000 Liabilities Common stock Retained earnings $ (600,000) (300,000) (1.400.000) $ (400,000) (100.000) (900.000) Totals $12.300.000) $(1.400,000) Zeigler sold Bennett inventory costing $72,000 during the last six months of 2014 for $120,000. At year-end, 30 percent remained. Zeigler sells Bennett inventory costing $200,000 during 2015 for $250,000. At year- end, 20 percent is left. With these facts, determine the consolidated balances for the following accounts: Consolidated Balance $ 1,150,000 $ 680,600 $ 210.000 Sales Cost of goods sold Operating expenses Dividend income Net income attributable to noncontrolling interest Inventory Total noncontrolling interest at 12/31/15 02 $ $ 27,000 980,000 411,000 $