Balance sheets of Company X and Company Y (unrelated companies) on January 2, 2021 are as below. On January 2, 2021 Company X issued 80 shares of its own $10 par value common stock (newly issued) in exchange for 80% of Company Y's $5 par value common stock. The fair value of Company X's common stock at that time was $25 per share. At the acquisition date (i.e., exchange date): 1. The fair value of Company Ys inventory is $40 greater than its book value. 2. The fair value of Company Ys property, plant and equipment is $200 greater than its book value. 3. The fair values of all other tangible net assets of Company Y are equal to their book values. There were no intercompany accounts included on the balance sheets of either company at the exchange date (January 2, 2021). If a consolidated balance sheet is prepared immediately after the exchange, indicate whether the following statements are True or False: Current assets = 10,900 Noncurrent assets = 9600 Total assets = 20,500 Liabilities = 11,200 Common stock ($10 par value) = 2,500 Common stock ($5 par value) = ....... Additional paid in capital = 4,200 Retained Earnings - 2,600 Total liabilities and equity = 20,500 Question 1: The amount of consolidated total assets on January 2, 2021 is $25,300? Question 2: The non-controlling interest account reported using the fair value of the minority shareholders claim on January 2, 2021 is $172? Question 3: The consolidated balance sheet on January 2, 2021 reports an investment in Y of $2000. Question 4: The balance of consolidated retained earnings January 2, 2021 is $2,600? Question 5: The balance of consolidated goodwill January 2, 2021 is $860?