1) Company P and Company S (two unrelated companies) reported balance sheets on December 31, 2023, as follows: Current assets Noncurrent assets Total assets Liabilities Common stock, $2 par value Common stock, $1 par value Additional paid-in capital... Retained earnings ....... Total liabilities & equity. P $ 7,500 9,500 $ 17,000 $ 10,500 3,000 2,000 1,500 $ 17,000 S $ 1,600 2,300 $ 3,900 D) T F E) T F $ 2,400 800 500 200 $ 3,900 Additional information: 1. On January 2, 2024, Company P exchanged 300 shares of its own $2 par value common stock for 90% of Company S's $1 par value common stock. 2. The fair value of Company P's stock given in exchange for Company S's stock was $6 per share (market price). 3. The fair (appraised) value of Company S's property, plant and equipment was $130 greater than its book value at the date Company P acquired Company S. 4. The fair (appraised) value of all other assets and liabilities of Company S's were equal to their book values at the date Company P acquired Company S. If a consolidated balance sheet is prepared immediately after the exchange, indicate whether the following statements are "True" or "False" by circling your answers below: A) T F The amount of consolidated total assets on January 2, 2024 is $21,400. B) T F The non-controlling interest account reported using the fair value of the minority shareholders' claim on January 2, 2024 is $163. C) T F The consolidated balance sheet on January 2, 2024 reports an investment in S of $1,800. The balance of consolidated retained earnings January 2, 2024 is $1,500. The balance of consolidated goodwill January 2, 2024 is $370.