Whitehurst Electronics published the following balance sheet for December 31, 20X5:

The balance sheet for Shocker Manufacturing for December 31, 20X5, appeared as follows:

Whitehurst acquired 80 percent of Shocker's common stock on December 31, 20X5. The fair values of Shocker's identifiable assets and liabilities were equal to book values. except for the following:

\section*{Required}
Select the correct answer for each of the following questions.
1. What will be the balance reported for consolidated retained earnings on December 31, 20X5 ?

a. \(\$ 360,000\).

b. \(\$ 380,000\).

c. \(\$ 440,000\).

d. \(\$ 460,000\).
2. What balance will be reported for common stock in the consolidated balance sheet?

a. \(\$ 600,000\).

b. \(\$ 640,000\).

c. \(\$ 760,000\).

d. \(\$ 800,000\).
3. What amount of notes payable will be reported by the consolidated entity?

a. \(\$ 596.000\).

b. \(\$ 620,000\).

c. \(\$ 622.000\).

d. \(\$ 630,000\).
4. What inventory balance will be reported in the consolidated balance sheet?

a. \(\$ 480,000\).

b. \(\$ 512,000\).

c. \(\$ 536.000\).

d. \(\$ 550.000\).
5. What amount of goodwill will be reported in the consolidated balance sheet?

a. \(\$ 100,000\).

b. \(\$ 166,000\).

c. \(\$ 330,000\).

d. \(\$ 390,000\).
6. What balance will be reported for the noncontrolling interest?

a. \(\$ 0\).

b. \(\$ 40,000\).

c. \(\$ 60,000\).

d. \(\$ 112,000\).
7. What amount of accounts payable will be reported in the consolidated balance sheet?

a. \(\$ 70,000\).

b. \(\$ 72,000\).

c. \(\$ 78,000\).

d. \(\$ 80.000\).
8. Total assets in the consolidated balance sheet will be:

a. \(\$ 1,750,000\).

b. \(\$ 2,032,000\).

c. \(\$ 2,180,000\).

d. \(\$ 2,250,000\).
9. Total stockholders' equity in the consolidated balance sheet will be:

a. \(\$ 1,080,000\).

b. \(\$ 1,140,000\).

c. \(\$ 1,320,000\).

d. \(\$ 1.380,000\).

10. Total liabilities reported in the consolidated balance sheet will be:

a. \(\$ 200,000\).

b. \(\$ 700,000\).

c. \(\$ 892,000\).

d. \(\$ 900,000\).

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Cash Accounts Receivable Inventory Buildings and Equipment Less: Accumulated Depreciation Goodwill Investment in Shocker Manufacturing Total Assets Whitehurst Electronics Balance Sheet December 31, 20X5 $ 100.000 Accounts Payable 210.000 Taxes Payable 360.000 Notes Payable 800.000 Common Stock (320,000) Additional Paid-In Capital 100.000 Retained Earnings $ 70.000 130,000 500,000 600.000 120.000 360.000 530.000 $1.780.000 Total Liabilities and Stockholders' Equity $1.780.000