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ProForm acquired 6 0 percent of ClipRite on June 3 0 , 2 0 2 3 , for $ 7 8 0 , 0 0
ProForm acquired percent of ClipRite on June for $ in cash. Based on ClipRite's acquisitiondate fair value, an unrecorded intangible of $ was recognized and is being amortized at the rate of $ per year. No goodwill was recognized in the acquisition. The noncontrolling interest fair value was assessed at $ at the acquisition date. The financial statements are as follows:
Note: Parentheses indicate a credit balance.
ProForm sold ClipRite inventory costing $ during the last six months of for $ At yearend, percent remained. ProForm sold ClipRite inventory costing $ during for $ At yearend, percent is left.
Required:
With these facts, determine the consolidated balances for the following:
Note: Input all amounts as positive values.
Answer is complete but not entirely correct.
tabletablensolidatedBalanceSales
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