Business, 12.08.2020 07:01 keelyrosewillia

Following are several figures reported for Allister and Barone as of December 31, 2018: Allister Barone
Inventory $530,000 $330,000
Sales 1,060,000 860,000
Investment income not given
Cost of goods sold 530,000 430,000
Operating expenses 245,000 315,000

Allister acquired 70 percent of Barone in January 2017. In allocating the newly acquired subsidiary's fair value at the acquisition date, Allister noted that Barone had developed a customer list worth $70,000 that was unrecorded on its accounting records and had a 4-year remaining life. Any remaining excess fair value over Barone's book value was attributed to goodwill. During 2018, Barone sells inventory costing $126,000 to Allister for $172,000. Of this amount, 20 percent remains unsold in Allister's warehouse at year-end. Determine balances for the following items that would appear on Allister's consolidated financial statements for 2018:

Amounts

Inventory
Sales
Cost of goods sold
Operating expenses
Net income attributable to noncontrolling interest

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Following are several figures reported for Allister and Barone as of December 31, 2018: Allister Ba...

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