Exacto Company reported net assets of \(\$ 260,000\) on January 1, 20X5, and reported the following net income and dividends for the years indicated:

True Corporation purchased 75 percent of the common stock of Exacto Company on January 1 . 20X5, and reported a balance in its investment account of \(\$ 259.800\) on December 31, 20X7. The excess of the purchase price paid by True Corporation over book value of the shares acquired was assigned to equipment with an economic life of 10 years remaining at January 1, 20X5.

\section*{Required}

a. What amount was paid in excess of book value by True Corporation when it purchased the shares of Exacto?

b. What amount will be added to buildings and equipment when the consolidated balance sheet is prepared at December 31, 20X7?

c. What amount will be added to accumulated depreciation when the consolidated balance sheet is prepared at December 31, 20X7?

d. What amount will be assigned to the noncontrolling shareholders in the consolidated balance sheet prepared at December 31, 20X7?

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Year Net Income Dividends 20X5 $35.000 $12,000 20X6 45.000 20.000 20X7 30,000 14,000