Required: a. What was the annual amortization resulting from the acquisition-date fair-value allocations? b. Were the intra-entity transfers upstream or downstream? Pitino acquired 90 percent of Brey's outstanding shares on January 1, 2022, in exchange for $567,000 in cash. The subsidiary's stockholders' equity accounts totaled $551,000, and the noncontrolling interest had a fair value of $63,000 on that day. However, a building (with a ten-year remaining life) in Brey's accounting records was undervalued by $38,000. Pitino assigned the rest of the excess fair value over book value to Brey's patented technology (five-year remaining life). Brey reported net income from its own operations of $89,000 in 2022 and $105,000 in 2023. Brey declared dividends of $31,500 in 2022 and $35,500 in 2023. Brey sells inventory to Pitino as follows: At December 31,2024 , Pitino owes Brey $41,000 for inventory acquired during the period. The separate account balances for the two companies at December 31,2024 , and the year then ended follow. Note: Parentheses indicate a credit balance. What is the net income attributable to the noncontrolling interest for 2024 ? \begin{tabular}{|l|l|l|l|} \hline Investment in Brey (consideration transferred) & & & \\ \hline Net income of Brey & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Worksheet Entries Note: Enter debits before credits. What amounts make up the $125,010 Equity in Earnings of Brey account balance for 2024 ? c. What intra-entity gross profit in inventory existed as of January 1, 2024? d. What intra-entity gross profit in inventory existed as of December 31,2024 ? e. What amounts make up the $125,010 Equity in Earnings of Brey account balance for 2024 ? f. What is the net income attributable to the noncontrolling interest for 2024 ? g. What amounts make up the $704,700 Investment in Brey account balance as of December 31, 2024 ? h. Prepare the 2024 worksheet entry to eliminate the subsidiary's beginning owners' equity balances. i. Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies. a. What was the annual amortization resulting from the acquisition-date fair-value allocations? b. Were the intra-entity transfers upstream or downstream? c. What intra-entity gross profit in inventory existed as of January 1, 2024? d. What intra-entity gross profit in inventory existed as of December 31,2024 ? \begin{tabular}{|l|l|} \hline Sales revenues & \\ \hline Cost of goods sold & \\ \hline Expenses & \\ \hline Equity in earnings of Brey & \\ \hline Consolidated net income & \\ \hline Noncontrolling interest in consolidated net income \\ \hline Consolidated net income to Pitino \\ \hline Retained earnings, 1/1/24 \\ \hline Dividends declared \\ \hline Retained earnings, 12/31/24 \\ \hline Cash and receivables \\ \hline Inventory \\ \hline Investment in Brey \\ \hline Land, buildings, and equipment (net) \\ \hline Patented technology \\ \hline Total Assets \\ \hline Liabilities \\ \hline Noncontrolling interest in Brey, 12/31/24 \\ \hline n mmnn ctrnl \\ \hline \end{tabular}