40 . Adams Corporation acquired 90 percent of the outstanding voting shares of Barstow. Inc. orn December 31, 2016. Adams paid a total of $603,000 in cash for these shares. The 10 percent non- controlling interest shares traded on a daily basis at fair value of $67.000 both before and Adams's acquisition. On December 31,2016, Barstow had the following account balances: Fair Value Book Value $160,000 120,000 220,000 160,000 Current assets Land Equipment (5-year remaining life) Patents (10-year remaining life) Notes payable (due in 5 years).. Common stock ,... Retained earnings, 12/31/16 $160,000 150,000 200,000 200,000 50,000 (180,000) (200,000) (180,000) (280,000) December 31, 2018, adjusted trial balances for the two companies follow: Barstow, Inc. Adams Debits $ 610,000 $250,000 50,000 380,000 490,000 873,000 702,000 480,000 100,000 40,000 110,000 Land Buildings 250,000 150,000 Investment in Barstow, Inc . Cost of goods sold .. 90,000 55,000 15,000 70,000 $3,785,000 $1,030,000 Interest expense Total debits. Credits Notes payable .. Common stock..___ . _ . 860,000 $ 230,000 510,000 180,000 340,000 280,000 1,367,000 Revenues Investment income.... 940,000 108,000 $3,785,000 $1,030,000