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ProForm acquired 70 percent of ClipRite on June 30,2023, for $910,000 in cash. Based on...

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Accounting

ProForm acquired 70 percent of ClipRite on June 30,2023, for $910,000 in cash. Based on ClipRite's acquisition-date fair value, an
unrecorded intangible of $400,000 was recognized and is being amortized at the rate of $10,000 per year. No goodwill was
recognized in the acquisition. The noncontrolling interest fair value was assessed at $390,000 at the acquisition date. The 2024
financial statements are as follows:
Note: Parentheses indicate a credit balance.
ClipRite sold ProForm inventory costing $72,000 during the last six months of 2023 for $120,000. At year-end, 30 percent remained.
ClipRite sold ProForm inventory costing $200,000 during 2024 for $250,000. At year-end, 10 percent is left.
Required:
With these facts, determine the consolidated balances for the following:
Note: Input all amounts as positive values.
Answer is complete but not entirely correct. 27,000 and 355,500 are wrong.
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