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ProForm acquired 60 percent of ClipRite on June 30, 2017, for$960,000 in cash. Based on ClipRite's acquisition-date fair value,an unrecorded intangible of $700,000 was recognized and is beingamortized at the rate of $17,000 per year. No goodwill wasrecognized in the acquisition. The noncontrolling interest fairvalue was assessed at $640,000 at the acquisition date. The 2018financial statements are as follows:ProFormClipRiteSales$(870,000)$(740,000)Cost of goods sold570,000435,000Operating expenses170,000135,000Dividend income(30,000)0Net income$(160,000)$(170,000)Retained earnings, 1/1/18$(1,600,000)$(920,000)Net income(160,000)(170,000)Dividends declared170,00050,000Retained earnings, 12/31/18$(1,590,000)$(1,040,000)Cash and receivables$470,000$370,000Inventory360,000770,000Investment in ClipRite960,0000Fixed assets1,700,000950,000Accumulated depreciation(300,000)(100,000)Totals$3,190,000$1,990,000Liabilities$(800,000)$(150,000)Common stock(800,000)(800,000)Retained earnings, 12/31/18(1,590,000)(1,040,000)Totals$(3,190,000)$(1,990,000)ClipRitesold ProForm inventory costing $76,000 during the last six monthsof 2017 for $160,000. At year-end, 30 percent remained. ClipRitesells ProForm inventory costing $235,000 during 2018 for $320,000.At year-end, 10 percent is left. With these facts, determine theconsolidated balances for the followingClipRite sold ProForm inventory costing $76,000 during the last sixmonths of 2017 for $160,000. At year-end, 30 percent remained.ClipRite sells ProForm inventory costing $235,000 during 2018 for$320,000. At year-end, 10 percent is left. With these facts,determine the consolidated balances for the following:Consolidated TotalsSalesCost of Goods SoldOperating ExpensesDividend IncomeInventoryNon-Controlling Interest in Subsidiary, 12/31/18Net Income attributable to Noncontrolling Interest