On January 1, Year 5, Black Corp. purchased 90% of the common shares of Whyte Inc. On this date, the following differences were observed with regard to specific net assets of Whyte:
Fair value €“ carrying amount differences
Land .................. +50,000
Buildings (net) ............... +20,000
Equipment (net) ............. -10,000
Notes payable .............. +5,000
The non-consolidated and consolidated balance sheets of Black Corp. on January 1, Year 5, are presented below. Whyte€™s retained earnings were $140,000 on this date.

Required:
Prepare the January 1, Year 5, balance sheet of Whyte Inc.

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Non-consolidated Consolidated Cash Accounts receivable Inventory Investment in Whyte Land Buildings (net) Equipment (net) Goodwill $ 36,000 116,000 144,000 292,500 210,000 640,000 308,000 52,000 168,000 234,000 280,000 720,000 338,000 50,000 $1,842,000 $1,746,500 Accounts payable Notes payable Common shares Retained earnings Non-controlling interest $ 88,000 507,500 380,000 771,000 $96,000 562,500 380,000 771,000 32,500 $1,842,000 $1,746,500