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#11 Purple Company acquired 80 percent of Silver Company's outstanding commonis 3592,000 on January 1, 20X7. On the date of acquisition, the book value and

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#11 Purple Company acquired 80 percent of Silver Company's outstanding commonis 3592,000 on January 1, 20X7. On the date of acquisition, the book value and Company's net assets were equal. Purple Company uses the equ investments. Trial balance data for Purple and Silver as of January 1, 20 ook value and fair value of Silver ity method to account for X7 are as follows Purple Company Silver Company Assets Cash Receivables Inventory Investment in Silver Company Land Depreciable Assets Accumulated Depreciation 218,000 130,000 250,000 592,000 560,000 1,750,000 (1,000,000) 2,500,000 50,000 74,000 174,000 250,000 500,000 Total Assets 1,000,000 Liabilities & Stockholders' Equity Accounts Payable Bonds Payable Common Stock Retained Earnings 190,000 500,000 1,250,000 560,000 60,000 200,000 500,000 240,000 Total Liabilities & Equity 2,500,000 1,000,000 Immediately after acquisition, the consolidation worksheet was completed with all of the appropriate elimination entries (including pre-acquisition accumulated depreciation). The last column of the worksheet showing the consolidated totals has been left blank. Fill in the consolidated totals and identify the account marked with a "?" that will be included on the consolidated balance sheet

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