ProForm acquired 70 percent of ClipRite on June 30, 2017, for $1,400,000 in cash. Based on ClipRite's acquisition-date fair value, an unrecorded intangible of $450,000 was recognized and is being amortized at the rate of $16,000 per year. No goodwill was recognized in the acquisition. The noncontrolling interest fair value was assessed at $600,000 at the acquis ition date. The 2018 financial statements are as follows: clipRite (820,000) 455,000 155,000 ProForm Sales Cost of goods sold Operating expenses $ (910,000) 590,000 210,000 (63,000) 0 Dividend income (173,000) S (210,000) Net income Retained earnings, 1/1/18 Net income $(2,000,000) (173,000) 210,000 (960,000) (210,000) 90,000 Dividends declared $(1,963,000) $(1,080,000) Retained earnings, 12/31/18 Cash and receivables 510,000 400,000 1,400,000 1,000,000 (200,000) 410,000 810,000 Inventory Investment in ClipRite Fixed assets 0 1,150,000 (300,000) Accumulated depreciation 3,110,000 2,070,000 Totals Liabilities $ (647,000) (500,000) (1,963,000) (490,000) (500,000) (1,080,000) Common stock Retained earnings, 12/31/18 $(3,110,000) $(2,070,000) Totals ClipRite sold ProForm inventory costing $80,000 during the last six months of 2017 for $200,000. At year-end, 30 percent remained ClipRite sells ProForm inventory costing $255,000 during 2018 for $360,000. At year-end, 10 percent is left. With these facts determine the consolidated balances for the following: Consolidated Balance Sales Cost of goods sold Operating expenses Dividend income Net income attributable to noncontrolling interest Inventory Noncontrolling interest in subsidiary, 12/31/18 ProForm acquired 70 percent of ClipRite on June 30, 2017, for $1,400,000 in cash. Based on ClipRite's acquisition-date fair value, an unrecorded intangible of $450,000 was recognized and is being amortized at the rate of $16,000 per year. No goodwill was recognized in the acquisition. The noncontrolling interest fair value was assessed at $600,000 at the acquis ition date. The 2018 financial statements are as follows: clipRite (820,000) 455,000 155,000 ProForm Sales Cost of goods sold Operating expenses $ (910,000) 590,000 210,000 (63,000) 0 Dividend income (173,000) S (210,000) Net income Retained earnings, 1/1/18 Net income $(2,000,000) (173,000) 210,000 (960,000) (210,000) 90,000 Dividends declared $(1,963,000) $(1,080,000) Retained earnings, 12/31/18 Cash and receivables 510,000 400,000 1,400,000 1,000,000 (200,000) 410,000 810,000 Inventory Investment in ClipRite Fixed assets 0 1,150,000 (300,000) Accumulated depreciation 3,110,000 2,070,000 Totals Liabilities $ (647,000) (500,000) (1,963,000) (490,000) (500,000) (1,080,000) Common stock Retained earnings, 12/31/18 $(3,110,000) $(2,070,000) Totals ClipRite sold ProForm inventory costing $80,000 during the last six months of 2017 for $200,000. At year-end, 30 percent remained ClipRite sells ProForm inventory costing $255,000 during 2018 for $360,000. At year-end, 10 percent is left. With these facts determine the consolidated balances for the following: Consolidated Balance Sales Cost of goods sold Operating expenses Dividend income Net income attributable to noncontrolling interest Inventory Noncontrolling interest in subsidiary, 12/31/18