tion Services al info HELP CENTER Question 1 Tiger Company acquired a 70 interest in Morton Company on January 1, 2022 in exchange for various considerations totaling $672.000. At the acquisition date, the fair value of the noncontrolling interest was $288,000 Morton's book value of net assets on that date consisted of common stock of $390,000 and retained earnings of $470,000. Tiger attributed the excess of fair value over Morton's book value to undervalued equipment with a 10-year remaining life. Reported own net income for 2022 was $400,000 for Tiger and $120,000 for Morton. Tiger distributed $100,000 in dividends during 2022; Morton paid $30,000. Morton regularly sells inventory to Tiger at a 25 percent gross profit rate. Tiger consistently resold this merchandise in the year of acquisition or in the period immediately following. Transfers for the two years after this business combination were the following: Inventory Remaining at Year-End Year 2022 2023 Price $80,000 Transfer (at transfer price) $20,000 $28,000 $100,000 Reported own net income for 2023 was $410,000 for Tiger and $180,000 for Morton. Tiger distributed $95,000 in dividends during 2023; Morton paid $50,000. The following selected account balances are from the individual financial records of these two companies as of December 31. 2023 Sales Tiger Morton $900,000 $450,000 Cost of goods sold 400,000 200,000 Operating 90,000 70,000 expenses Inventory 380,000 260,000 Answer the following questions: (Do not add dollar sign, do not add comma to your amount, round the answer to the whole number) 1. Determine the amount of intra-entity profit remains in Tiger's inventory at the end of year 2022. [a]