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Required information On January 1,20x4, Potter Corporation acquired 90 percent of Shoemaker Company's voting stock, of underlying book volue. The fair volue of the noncontrolling interest was equal to 10 percent of the book value of Shoemaker at that date. Potter uses the fully adjusted equity method in accounting for its ownership of Shoemaker. On December 31, 20X5, the trial balances of the two companies are as follows: 3osed on the preceding informotion. What amount would be reported as total assets in the consolidated balance sheet ot December 31,20X5 Based on the preceding information, what amount would be reported os total assets in the consolidated balance sheet at December 31,205 ? Mulhiple Choice $805,000 $712000 $742.000 $1102000 Based on the preceding information, what amount would be reported as total lablities in the consolidoted bolance sheet at December 31 , 205 ? Muliple Choice $330,000 $712000 $318000 $130,000 Based on the preceding information. Whot amount would be reported os retained eornings in the consolidoted bolance sheet prepored ot December 31. 205 ? Muiteple choses 5344000 $254,000 $150,000 $424,000 Based on the preceding information, what amount would be reponted as noncontrolling interest in the consolidoted boiance sheet ot December 31 , 205 ? Multiple Choice $27,000 54,000 515,000 518000 Required information On January 1,20x4, Potter Corporation acquired 90 percent of Shoemaker Company's voting stock, of underlying book volue. The fair volue of the noncontrolling interest was equal to 10 percent of the book value of Shoemaker at that date. Potter uses the fully adjusted equity method in accounting for its ownership of Shoemaker. On December 31, 20X5, the trial balances of the two companies are as follows: 3osed on the preceding informotion. What amount would be reported as total assets in the consolidated balance sheet ot December 31,20X5 Based on the preceding information, what amount would be reported os total assets in the consolidated balance sheet at December 31,205 ? Mulhiple Choice $805,000 $712000 $742.000 $1102000 Based on the preceding information, what amount would be reported as total lablities in the consolidoted bolance sheet at December 31 , 205 ? Muliple Choice $330,000 $712000 $318000 $130,000 Based on the preceding information. Whot amount would be reported os retained eornings in the consolidoted bolance sheet prepored ot December 31. 205 ? Muiteple choses 5344000 $254,000 $150,000 $424,000 Based on the preceding information, what amount would be reponted as noncontrolling interest in the consolidoted boiance sheet ot December 31 , 205 ? Multiple Choice $27,000 54,000 515,000 518000