Anchovy acquired 90 percent of Yelton on January 1, 2013. Of Yeltons total acquisition-date fair value, $60,000

Anchovy acquired 90 percent of Yelton on January 1, 2013. Of Yelton’s total acquisition-date fair value, $60,000 was allocated to undervalued equipment (with a 10-year remaining life) and $80,000 was attributed to franchises (to be written off over a 20-year period).

Since the takeover, Yelton has transferred inventory to its parent as follows:

On January 1, 2014, Anchovy sold Yelton a building for $50,000 that had originally cost $70,000 but had only a $30,000 book value at the date of transfer. The building is estimated to have a 5-year remaining life (straight-line depreciation is used with no salvage value).
Selected figures from the December 31, 2015, trial balances of these two companies are as follows:

Determine consolidated totals for each of these accountbalances.

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Year 2013 2014 2015 Transfer Price Remaining at Year-End $20,000 (at transfer price) 30,000 (at transfer price) 40,000 (at transfer price) Cost $20,000 49,000 50,000 $50,000 70,000 100,000 Anchovy $600,000 400,000 120,000 Not given 220,000 140,000 350,000 Yelton $500,000 260,000 80,000 Sales . . . Cost of goods sold Operating expenses.. Investment income. Inventory Equipment (net) Buildings (net) 80,000 110,000 190,000