ProForm acquired 80 percent of ClipRite on June 30, 2017, for $1,440,000 in cash. Based on ClipRite's acquisition-date fair value, an unrecorded intangible of $800,000 was recognized and is being amortized at the rate of $19,000 per year. No goodwill was recognized in the acquisition. The noncontrolling interest fair value was assessed at $360,000 at the acquisition date. The 2018 financial statements are as follows: ProFore clipRite (780,eee) 445,000 Sales (890,000) Cost of goods sold Operating expenses Dividend income 580,eee 190,eee (56,000) 145,000 Net income (176,e00) (190,000) (940,000) (190,00e) 70,000 Retained earnings, 1/1/18 Net income $(2,200,000) (176,e00) 190,000 Dividends declared $(1,060,000) 390,000 790,000 $(2,186,000) Retained earnings, 12/31/18 490,000 380.000 1,440,000 1,900,000 (900,000) Cash and receivables Inventory Investment in ClipRite 1,050,00 (200,000) Fixed assets Accumulated depreciation $ 3,310,00e $ 2,030,000 Totals (670,000) (300,000) (1,060,000) S(2,030,000) (824,000) (300,000) (2,186,000) $(3,310,000) Liabilities Common stock Retained earnings, 12/31/18 Totals ClipRite sold ProForm inventory costing $78,000 during the last six months of 2017 for $180,000 At year-end, 30 percent remained ClipRite sells ProForm inventory costing $245,000 during 2018 for $340.000 At year-end, 10 percent is left. With these facts, determine the consolidated balances for the following Consolidated Balance Sales Ceet of eende endi 000f064 Inventory Investment in ClipRite 380,000 1,440,000 Fixed assets 1,900,000 (900,000) $ 3,310,000 Accumulated depreciation Totals $ Liabilities $ (824,000) (300, ) (2,186,000) Common stock Retained earnings, 12/31/18 (1 $(3,310,000) Totals $(2 ClipRite sold ProForm inventory costing $78,000 during the last s ClipRite sells ProForm inventory costing $245,000 during 2018 fo 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 A