ProForm acquired 80 percent of ClipRite on June 30, 2017, for $1,040,000 in cash. Based on ClipRite's acquisition-date fair value, an unrecorded intangible of $650,000 was recognized and is being amortized at the rate of $20,000 per year. No goodwill was recognized in the acquisition. The noncontrolling interest fair value was assessed at $260,000 at the acquisition date. The 2018 financial statements are as follows: $ ClipRite (900, 000) 475,000 175,000 Sales Cost of goods sold Operating expenses Dividend income Net income Retained earnings, 1/1/18 Net income Dividends declared Retained earnings, 12/31/18 Cash and receivables Inventory Investment in ClipRite Fixed assets Accumulated depreciation Totals Liabilities Comon stock Retained earnings, 12/31/18 Totals ProForm $ (950,000) 610,000 250,000 (56, 000) $ (146,000) $(2,400,000) (146,000) 250,000 $(2, 296, 000) $ 550,000 440,000 1,040,000 1,700,000 (600,000) $ 3, 130,000 $ (634, 000) (200,000) (2, 296, 000) $(3, 130, 000) $ (250, 000) $(1,000,000) (250, 000) 70,000 $(1, 180, 000) $ 450,000 850,000 1,350,000 (300, 000) $ 2, 350,000 $ (970, 000) (200,000) (1, 180, 000) $(2, 350, 000) ProForm sold ClipRite inventory costing $84,000 during the last six months of 2017 for $240,000. At year-end, 30 percent remained ProForm sells ClipRite inventory costing $275,000 during 2018 for $400,000. At year-end, 10 percent is left. Determine the consolidated balances for the following accounts: Determine the consolidated balances for the following accounts: Sales Cost of goods sold Operating expenses Dividend income Net income attributable to noncontrolling interest Inventory Noncontrolling interest in subsidiary, 12/31/18 Consolidated Balance $ 1,450,000 $ 650,700 $ 445,000 $ 0 $ 1,277,500