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Accumulated depreciation $690,000 $900,000 Investment in Stone (common) $900.00 Total Asset $2,175,00 $1,602,000 Accounts payable $276,00 $330.000 Accrued liabilities $24,009 $30,009 Preferred shares $150,00 Common
Accumulated depreciation $690,000 $900,000 Investment in Stone (common) $900.00 Total Asset $2,175,00 $1,602,000 Accounts payable $276,00 $330.000 Accrued liabilities $24,009 $30,009 Preferred shares $150,00 Common shares $1,350,00 5600,00 Retained earnings $525.001 $492.000 Total Liabilities and Equity $2,175,00 $1,602,00 Other Information: . Intercompany sales of inventory for 2020 were as follows: Lime to Stone: $50,009 Stone to Lime: $40,000 . Unrealized intercompany profits in inventory for 2020 were as follows: January 1, 2020; Stone's Inventory $10,000 Lime's Inventory $20,000 December 31, 2020; Stone's Inventory $6,000 Lime's Inventory $8,000 . On January 1, 2018, Stone sold equipment to Lime for $30,000. The equipment had a carrying value $27,000 on that date and an estimated useful life of 3 years. The inventory on hand at the start of 202 to outsiders during the year. . Both companies are subject to a tax rate of 40%. There were no dividends in arrears on December 3 Lime uses the cost method to account for its investment in Stone. Compute the Goodwill on the date of the acquisition
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