ProForm acquired 60 percent of ClipRite on June 30, 2020, for $840,000 in cash. Based on ClipRite's acquisition-date fair value, an unrecorded intangible of $700,000 was recognized and is being amortized at the rate of $12,000 per year. No goodwill was recognized in the acquisition. The noncontrolling interest fair value was assessed at $560,000 at the acquisition date. The 2021 financial statements are as follows:

Sales

Cost of goods sold

Operating expenses

Dividend income

Net income

Retained earnings, 1/1/21

Net income

Dividends declared

Retained earnings, 12/31/21

Cash and receivables

Inventory

Investment in ClipRite

Fixed assets

Accumulated depreciation

Totals

Liabilities

Common stock

Retained earnings, 12/31/21

Totals

ProForm

$ (960,000)

615,000

260,000

(48,000)

$ (133,000)

$ (2,000,000-)

(133.006)

260,000

$ (1,873,000)

$

560,000

450,000

840,000

1,300, 000

(200,000)

$ 2,950,000

$

(777,000)

(300,000)

(1,873,000)

$(2,950,000)

ClipRite

$

(920,000)

480,000

180,000

$ (260,000)

$(1,010,000)

(260,000)

80,000

$(1,190,000)

460,000

860,000

1, 400, 000

(350,000)

$ 2,370,000

(880,000)

(300,000)

(1,190,000)

$(2,370,000)

(Note: Parentheses indicate a credit balance.)

ClipRite sold ProForm inventory costing $85,000 during the last six months of 2020 for $250,000. At year-end, 30 percent remained.

ClipRite sold ProForm inventory costing $280,000 during 2021 for $410,000. At year-end, 10 percent is left.

Determine the consolidated balances for the following: (Input all amounts as positive values.)

Sales

Cost of Goods Sold

Operating Expenses

Dividend Income

Net Income Attributable to Noncontrolling Interest

Inventory

Noncontrolling Interest in Subsidiary, 12/31/21

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