21 20 19 18 17 16 15 14 13 12 2 6 5 4 20 Pen corporation acquired 80% of Syn company common stock for 360,000 $on January 1, 2015, when Syns stockholders equity consisted of $300,000 capital (common stock 15000 shares for 20 5 per share) and 5 30,000 retained earnings. The Implied fair value of Syn equal 500.000 450.000