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Following are financial statements for Moore Company and Kirby Company for 2018: $ Kirby (600,000) 400,000 160,000 (40,000) (550,000) (40,000) $ $ Sales Cost of goods sold Operating and interest expenses Net income Retained earnings, 1/1/18 Net income Dividends declared Retained earnings, 12/31/18 Cash and receivables Inventory Investment in Kirby Equipment (net) Buildings Accumulated depreciationbuildings Other assets Total assets Liabilities Common stock Retained earnings, 12/31/18 Total liabilities and equity Moore $ (800,000) 500,000 100,000 $ (200,000) $ (990,000) (200,000) 130,000 $ (1,060,000) 217,000 224,000 657,000 600.000 1,000,000 (100,000) 200,000 $ 2,798,000 $ (1,138,000) (600,000) (1,060,000) $ (2,798,000) (590,000) 180,000 160,000 420,000 650,000 (200,000) 100,000 $ 1,310,000 $ (570,000) (150,000) (590,000) $ (1,310,000) Moore purchased 90 percent of Kirby on January 1, 2017, for $657,000 in cash. On that date, the 10 percent noncontrolling interest was assessed to have a $73,000 fair value. Also at the acquisition date, Kirby held equipment (four-year remaining life) undervalued in its financial records by $20,000 and interest-bearing liabilities (five-year remaining life) overvalued by $40,000. The rest of the excess fair over book value was assigned to previously unrecognized brand names and amortized over a 10-year life. During 2017 Kirby reported a net income of $80,000 and declared no dividends. Each year Kirby sells Moore inventory at a 20 percent gross profit rate. Intra-entity sales were $ 145,000 in 2017 and $160,000 in 2018. On January 1, 2018, 30 percent of the 2017 transfers were still on hand, and on December 31, 2018, 40 percent of the 2018 transfers remained. Moore sold Kirby a building on January 2, 2017. It had cost Moore $100,000 but had $90,000 in accumulated depreciation at the time of this transfer. The price was $25,000 in cash. At that time, the building had a five-year remaining life. Determine all consolidated balances computationally. Consolidated Balances Sales Cost of goods sold Operating and interest expenses Noncontrolling interest in consolidated net income Consolidated net income Consolidated net income to controlling interest Retained earnings, 1/1/18 Dividends declared Retained earnings, 12/31/18 Cash and receivables Inventory Investment in Kirby Equipment (net) Buildings Accumulated depreciation Other assets Brand names Total assets Liabilities NCI Common stock Retained earnings 12/31/18 Total liabilities and equity

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