14 Under the equity method of accounting parent-retained earnings and the consolidated-retained earnings are equal. Select one: out of True False question 15 Top Corporation acquired 100 % of Sun Corporation's common stock on December 31,2019. Balance sheet data for the two companies immediately following the acquisition TOP SUN ut of Cash $ 49,000 $ 30,000 Accounts Receivable 110,000 45,000 question Inventory 130,000 70,000 Land 80,000 25,000 235,000 Buildings & Equipment 277,000 Investment in Sun Corporation 198,000 Total Assets $844,000 $405,000 Accounts Payable $ 61,500 $ 28,000 Taxes Payable 95,000 37,000 Bonds Payable 280,000 200,000 Common Stock 150,000 50,000 Retained Earnings 257,500 90,000 Total $844,000 $405,000 At the date of the business combination, the book values of Sun's net assets and liabilities approximated fair value except for inventory, which had a fair value$ 85,000 and land, which had a fair value of $45,000 . indicate the total consolidated retained earning that should appear in the consolidated balance sheet prepared immediately after the business combination? Select one: a. 347,500 b. 547,500 c. 257,500 d. 397,500 n15 Top Corporation acquired 100 % of Sun Corporation's common stock on December 31,2019. Balance sheet data for the two companies immediately following the acquisition TOP SUN out of Cash $ 49,000 $ 30,000 Accounts Receivable 110,000 45,000 question Inventory 130,000 70,000 Land 80,000 25,000 Buildings & Equipment 277,000 235,000 Investment in Sun Corporation 198,000 Total Assets $844,000 $405,000 Accounts Payable $ 61,500 $ 28,000 Taxes Payable 95,000 37,000 Bonds Payable 280,000 200,000 Common Stock 150,000 50,000 Retained Earnings 257,500 90,000 Total $844,000 $405,000 At the date of the business combination, the book values of Sun's net assets and liabilities approximated fair value except for inventory, which had a fair value$ 85,000 and land, which had a fair value of $45,000 . indicate the total consolidated retained earning that should appear in the consolidated balance sheet prepared immediately after the business combination? Select one: a. 347,500 b. 547,500 c. 257,500 d397 500