ProForm acquired $70$ percent of ClipRite on June $30,2020,$ for $$1,050,000$ in cash. Based on ClipRite's acquisition$-$date falr value, an

unrecorded intangible of $$750,000$ was recognized and is being amortized at the rate of $$13,000$ per year. No goodwill was

recognized in the acquisition. The noncontrolling interest fair value was assessed at $$450,000$ at the acquisition date. The $2021$

financlal statements are as follows:

$($Note: Parentheses Indicate a credit balance.$)$

ClipRite sold ProForm Inventory costing $$86,000$ during the last sIX months of $2020$ for $$260,000.$ At year$-$end, $30$ percent remalned.

ClipRite sold ProForm Inventory costing $$285,000$ during $2021$ for $$420,000.$ At year$-$end, $10$ percent is left.

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

Sales

Cost of Goods Sold

Operating Expenses

Dividend Income

Net Income Attrlbutable to Noncontrolling Interest

Inventory

Noncontrolling Interest in Subsidlary, $12/31/21$ProForm acquired $70$ percent of ClipRite on June $30,2020,$ for $$1,050,000$ in cash. Based on ClipRite's acquisition$-$date fair value, an unrecorded intangible of $$750,000$ was recognized and is being amortized at the rate of $$13,000$ per year. No goodwill was recognized in the acquisition. The noncontrolling interest fair value was assessed at $$450,000$ at the acquisition date. The $2021$ financial statements are as follows:

ProForm ClipRite

Sales $ $(970,000)$ $ $(940,000)$

Cost of goods sold $620,000485,000$

Operating expenses $270,000185,000$

Dividend income $(63,000)0$

Net income $ $(143,000)$ $ $(270,000)$

Retained earnings, $1/1/21$ $ $(2,200,000)$ $ $(1,020,000)$

Net income $(143,000)(270,000)$

Dividends declared $270,00090,000$

Retained earnings, $12/31/21$ $ $(2,073,000)$ $ $(1,200,000)$

Cash and receivables $ $570,000$ $ $470,000$

Inventory $460,000870,000$

Investment in ClipRite $1,050,0000$

Fixed assets $1,400,0001,450,000$

Accumulated depreciation $(300,000)(400,000)$

Totals $ $3,180,000$ $ $2,390,000$

Liabilities $ $(707,000)$ $ $(790,000)$

Common stock $(400,000)(400,000)$

Retained earnings, $12/31/21(2,073,000)(1,200,000)$

Totals $ $(3,180,000)$ $ $(2,390,000)$

$($Note: Parentheses indicate a credit balance.$)$

ClipRite sold ProForm inventory costing $$86,000$ during the last six months of $2020$ for $$260,000.$ At year$-$end, $30$ percent remained. ClipRite sold ProForm inventory costing $$285,000$ during $2021$ for $$420,000.$ 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, $12/31/21$