19_Top Corporation acquired 100 % of Sun Corporations common stock on December 31,2019. Balance sheet data for the two companies immediately following the acquisition

TOP SUN

Cash $ 49,000 $ 30,000

Accounts Receivable 110,000 45,000

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 Suns 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. 397,500 b. 257,500 c. 347,500 d. 547,500 21_West, Inc. holds 100 percent of the common stock of Coast Company, an investment acquired for $680,000. Immediately following the combination, West's net assets have a book value of $1,150,000 and a fair value of $1,390,000. The book value and the fair value of Coast's net assets on the date of combination are $400,000 and $550,000, respectively. Immediately following the combination, a consolidated balance sheet is prepared

Based on the information given above, at what amount will West's investment in Coast stock be reported in the consolidated balance sheet?

Select one: a. 440,000 b. 400,000 c. 680,000 d. 0 22_A corporation using the equity method of accounting for its investment in a 40% owned investee,which earned $20,000 and paid $5,000 in dividends ,the debit side of recording the income from subsidiary will be

Select one: a. investment b. cash c. no entry d. income