The individual financial statements for Gibson Company and Keller Company for the year ending December 31, 2015, follow. Gibson acquired a 60 percent interest in Keller on January 1, 2014, in exchange for various considerations totaling $810,000. At the acquisition date, the fair value of the noncontrolling interest was $540,000 and Kellers book value was $1,080,000. Keller had developed internally a customer list that was not recorded on its books but had an acquisition-date fair value of $270,000. This intangible asset is being amortized over 20 years. Gibson sold Keller land with a book value of $85,000 on January 2, 2014, for $180,000. Keller still holds this land at the end of the current year. Keller regularly transfers inventory to Gibson. In 2014, it shipped inventory costing $208,000 to Gibson at a price of $320,000. During 2015, intra-entity shipments totaled $370,000, although the original cost to Keller was only $222,000. In each of these years, 20 percent of the merchandise was not resold to outside parties until the period following the transfer. Gibson owes Keller $45,000 at the end of 2015.