11) The balance sheets of Company X and Company Y (unrelated companies) on December 31, 2020 are: X Y BE Current assets Noncurrent assets Total assets $ 13,500 12,700 $26,200 $2,000 2,200 $4,200 $2,500 $ 13,800 6,000 400 Liabilities Common stock ($10 par value).. Common stock ($5 par value) Additional paid-in capital Retained earnings Total liabilities and equity 800 2,500 3,900 $ 26,200 500 $4,200 On January 2, 2021, Company X issued 100 shares of its own $10 par value common stock (newly issued) in exchange for 100% of Company Y's $5 par value common stock. The fair value of Company X's common stock at that time was $22 per share. At the acquisition date (i.e., exchange date): 1. The fair value of Company Y's inventory is $60 greater than its book value. 2. The fair value of Company Y's property, plant and equipment is $200 greater than its book value. 3. The fair values of all other tangible net assets of Company Y are equal to their book values. There were no intercompany accounts included on the balance sheets of either company at the exchange date (January 2, 2021). If a consolidated balance sheet is prepared immediately after the exchange, which of the following is not a correct statement: A) The balance of current assets on the consolidated balance sheet is $15.560. B) The balance of goodwill on the consolidated balance sheet is $240. C) The balance of total assets on the consolidated balance sheet is $30.700. D) The balance of capital stock (common stock plus additional paid-in capital) on the consolidated balance sheet is $10.700. E) The balance of retained earnings on the consolidated balance sheet is $3,900