Fundamentals of Advanced Accounting 5th Edition by Joe Ben Hoyle,Thomas Schaefer,Timothy Doupnik

Exercise 45

Bennett acquired 70 percent of Zeigler on June 30, 2012, for $910,000 in cash. Based on Zeigler's acquisition-date fair value, only one unrecorded intangible of $400,000 was recognized and is being amortized at the rate of $10,000 per year. The noncontrolling interest fair value was assessed at $390,000 at the acquisition date. The 2013 financial statements are as follows:

Bennett sold Zeigler inventory costing $72,000 during the last six months of 2012 for $120,000. At year-end, 30 percent remained. Bennett sells Zeigler inventory costing $200,000 during 2013 for $250,000. At year-end, 20 percent is left. With these facts, determine the consolidated balances for the accounts:
Sales
Cost of Goods Sold
Operating Expenses
Dividend Income
Noncontrolling Interest in Consolidated Income
Inventory
Noncontrolling Interest in Subsidiary, 12/31/13