ProForm acquired 70 percent of ClipRite on June 30, 2017, 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 2018 financial statements are as follows ClipRite (940, ProForm Sales Cost of goods sold Operating expenses Dividend income $(979,000) 620,000 270,000 (63,000) 485,000 185,000 $(143,) $ (270, $(2 Net income Retained earnings, 1/1/18 Net income Dividends declared 2,200,000) (1,020,000) (270,000) (143,000) 27,000 99,9e 90,000 $(2,073,000 $(1,200,000) Retained earnings, 12/31/18 Cash and receivables Inventory Investment in ClipRite Fixed assets Accumulated depreciation = - $ 570,000 $ 470,000 870,000 460,000 1,050,000 1,400,0e0 1,450,000 400,000 (300,000) -( $ 3,180,000 $ 2,390,000 Totals Liabilities Common stock Retained earnings, 12/31/18 $ (707,000) (790,000) (400,000) (2,073,000)(1,200,090) ,180,00) (2,390,000) (400,000) Totals $(3, ClipRite sold ProForm inventory costing $86,000 during the last six months of 2017 for $260,000. At year-end, 30 percent remained ClipRite sells ProForm inventory costing $285,000 during 2018 for $420,000. At year-end, 10 percent is left. With these facts, determine the consolidated balances for the following