On January 1, 2019, Alpha acquired 80 percent of Delta. Of Delta's total business fair value, $224,000 was allocated to

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On January 1, 2019, Alpha acquired 80 percent of Delta. OfDelta's total business fair value, $224,000 was allocated tocopyrights with a 20-year remaining life. Subsequently, on January1, 2020, Delta obtained 70 percent of Omega's outstanding votingshares. In this second acquisition, $148,200 of Omega's totalbusiness fair value was assigned to copyrights that had a remaininglife of 12 years. Delta's book value was $585,000 on January 1,2019, and Omega reported a book value of $181,500 on January 1,2020.
Delta has made numerous inventory transfers to Alpha since thebusiness combination was formed. Intra-entity gross profits of$16,000 were present in Alpha's inventory as of January 1, 2021.During the year, $274,000 in additional intra-entity sales weremade with $30,140 in Intra-entity gross profits in inventoryremaining at the end of the period.
Both Alpha and Delta utilized the partial equity method toaccount for their investment balances.
Following are the individual financial statements for thecompanies for 2021 with consolidated totals.
Note: Parentheses indicate a credit balance.
Develop the worksheet entries necessary to derive these reportedbalances: (If no entry is required for atransaction/event, select "No journal entry required" in the firstaccount field.)