Calculate the following:
1. The value of Common Shares appearing on (X) 's consolidated balance sheet on June 30, 2020 (3 marks)

2. The amount of Accounts Receivable appearing on (X) 's consolidated balance sheet as at June 30, 2020 (3 marks)

3. The amount of Current Liabilities appearing on (X) 's consolidated balance sheet as at June 30, 2020 (3 marks)

4. The net amount appearing on (X) 's consolidated balance sheet for Equipment as at June 30, 2020 (3 marks)

5. The amount of goodwill appearing on (X) 's consolidated balance sheet as at June 30, 2020 (5 marks)

6. What amount would appear as (X)'s investment in (Y) on its June 30, 2020 consolidated balance sheet? (3 marks)

7. The amount of non-controlling interest appearing on (X) 's consolidated balance sheet as at June 30, 2020 (5 marks)

(X) Inc. purchased 80% of the outstanding voting shares of (Y) for $360,000 on July 1, 2017. On that date, (Y) had common shares and retained earnings worth $180,000 and $90,000, respectively. The equipment had a remaining useful life of 5 years from the date of acquisition. Y's bonds mature on July 1, 2027. Both companies use straight line amortization, and no salvage value is assumed for assets. The trademark is assumed to have an indefinite useful life. Goodwill is tested annually for impairment. The balance sheets of both companies, as well as Y's fair market values on the date of acquisition are disclosed below: Cash Accounts Receivable Inventory Equipment (net) Trademark Total Assets Current Liabilities Bonds Payable Common Shares (X) (carrying value) $800,000 $240,000 $60,000 $900,000 $2,000,000 $200,000 $260,000 $900,000 (Y) (carrying value) $245,000 $40,000 $45,000 $80,000 $90,000 $500,000 $160,000 $70,000 $180,000 (Y) (fair value) $245,000 $40,000 $50,000 $72,000 $193,000 $160,000 $40,000