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Proform acquired 80 percent of ClipRite on June 30, 2020, for $800,000 in cash. Based on ClipRite's acquisition date fair value, an unrecorded intangible of

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Proform acquired 80 percent of ClipRite on June 30, 2020, for $800,000 in cash. Based on ClipRite's acquisition date fair value, an unrecorded intangible of $500,000 was recognized and is being amortized at the rate of $17,000 per year. No goodwill was recognized in the acquisition. The noncontrolling interest fair value was assessed at $200,000 at the acquisition date. The 2021 financial statements are as follows Clipite $ (840,000) 460,000 160,000 Sales Cost of boods sold Operating expenses Dividend income Net income Retained earnings, 1/1/21 Net income Dividends declared Retained earnings, 12/31/21 Cash and receivables Inventory Investment in Cliprite Fixed assets Accumulated depreciation Totals Liabilities Conmon stock Retained earnings, 12/31/21 Totals ProForm 5 (920,000) 595,080 220,000 (80,000 $ (185,000) 5(1,600,000) (185,000) 220,000 $(1,565,000) 5 520,000 410,000 800,000 1,100,000 (200,000 5 2,630,000 $ (465,000 (600,000 (2.565,000 $(2,630,000) S (220,000) (970,000) (220,000) 100,000 $(1,090,000) $ 420,000 820,000 1,200,000 (350.000) $ 2,990,000 5 (400,000) (600,000) (1,090,000 $(2,990,000) (Note: Parentheses indicate a credit balance) ClipRite sold ProForm inventory costing $81,000 during the last six months of 2020 for $210,000. At year-end. 30 percent remained ClipRite sold ProForm inventory costing $260.000 during 2021 for $370,000. At year-end. 10 percent is left (Note: Parentheses indicate a credit balance) ClipRite sold ProForm inventory costing $81,000 during the last six months of 2020 for $210,000. At year-end, 30 percent remained. ClipRite sold ProForm inventory costing $260,000 during 2021 for $370,000. 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 Consolidated Balance Sales Cost of goods sold Operating expenses Dividend income Net income attributable to noncontrolling interest Inventory Noncontrolling interest in subsidiary, 12/31/21

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