Transfer Price Remalning at Year-End $30,000 (at transfer price) 35,000 (at transfer price) 50,000 (at transfer price) Year Cost 2016 $45,000 48,000 $90,000 80,000 2017 69,000 92,000 Allison Bretton Sales. Cost of goods sold Operating expenses Investment income $700,000 440,000 $400,000 220,000 Not given 210,000 140,000 350,000 -0- Inventory Equipment (net) 110,000 190,000 Buildings (net)

Allison Corporation acquired 90 percent of Bretton on January 1, 2022. Of Bretton's total acquisition-date fair value, $65,100 was allocated to undervalued equipment (with a 10-year remaining life) and $86,800 was attributed to franchises (to be written off over a 20-year period). Since the takeover, Bretton has transferred inventory to its parent as follows: Remaining at Year- Year Cost Transfer Price End (at transfer 2022 2023 $50,100 53,100 75,375 price) $33,400 2024 $100,200 88,500 100,500 39,165 51,700 On January 1, 2023, Allison sold Bretton a building for $67,000 that had originally cost $93,800 but had only a $40,200 book value at the date of transfer. The building is estimated to have a five-year remaining life (straight-line depreciation is used with no salvage value). Selected figures from the December 31, 2024, trial balance of these two companies are as follows: Sales Allison $729,750 Bretton $417,000 Cost of Goods Sold 458,700 229,350 Operating Expenses 125,100 83,400…

The DeBlois Family Co. acquired 40% of Orange Beach Co. with a $500,000 payment on January 1, 2023. The equivalent net book value (40% share) of Orange Beach on the date of acquisition was $425,000. $50,000 of the excess payment was attributable to equipment with a 10-year remaining life. The remainder of the excess payment was not attributable to any identifiable item. Orange Beach Co. Reported net income of $40,000 in 2023. No dividends were paid out. On January 1, 2024, DeBlois Family Co. Acquired an additional 50% ownership share in Orange Beach Co. With a cash payment of $700,000. The fair value of the noncontrolling interest was determined to be $140,000 on the date of acquisition. The total fair value of Orange Beach's identifiable assets and liabilities on January 1, 2024, was $1,000,000. The trading value of stock shares remained the same as acquisition date prices for several months after January 1, 2024. What amount should be reported as consolidated goodwill on January 1,…

On January 1, 2022, P Company purchased 64,000 shares of the 80,000 outstanding shares of S Company at a price of P1,200,000, with an excess of P30,000 over the book value of S Company's net assets. P13,000 of the excess is attributed to an undervalued equipment with a remaining useful life of eight years from the date of acquisition and the rest of the amount is attributed to goodwill. For the year 2022, P Company reported a net income of P750,000 and paid dividends of P180,000, while S Company reported a net income of P240,000 and paid dividends to P Company amounting to P39,000. The retained earnings of P Company at the end of 2022 per books is P1,025,000. P Company uses the cost method to account for its investment in S Company and elected to measure non-controlling interest at fair value on date of acquisition. How much is the consolidated net income attributable to controlling interests?