The following are several figures reported for Allister and Barone as of December 31, 2021:...
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Accounting
The following are several figures reported for Allister and Barone as of December 31, 2021:
| Allister | Barone | |||
| Inventory | $ | 560,000 | $ | 360,000 |
| Sales | 1,120,000 | 920,000 | ||
| Investment income | not given | |||
| Cost of goods sold | 560,000 | 460,000 | ||
| Operating expenses | 260,000 | 330,000 | ||
Allister acquired 90 percent of Barone in January 2020. In allocating the newly acquired subsidiary's fair value at the acquisition date, Allister noted that Barone had developed a customer list worth $68,000 that was unrecorded on its accounting records and had a four-year remaining life. Any remaining excess fair value over Barone's book value was attributed to goodwill. During 2021, Barone sells inventory costing $136,000 to Allister for $192,000. Of this amount, 10 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 2021:
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