d. $140,000 10. On January 2. Parma borrowed S60.000 and used the proceeds to purchase 80% of the outstanding common shares of Seville. Parma had no prior equity interest in Seville. Ten equal principal and interest payments begin December 30. The excess of the implied fair value of Seville over the carrying amount of its identifiable net assets, if any, should be assigned 60% to inventory and 40% to goodwill. Moreover, the fair value of the noncontrolling interest (NCI) is 20% of the implied fair value of the acquiree. The following are the balance sheets of Parma and Seville on January 1. Parma Seville $70,000 $20 000 Current assets Noncurrent assets 90,000 40.000 Total assets $160,000 $60,000 Current liabilities $30,000 $10,000 Noncurrent liabilities 50,000 Equity 80,000 50,000 Total liabilities and equity $160.000 $60,000 On Parma's January 2 consolidated balance sheet, noncurrent assets equal a. $130,000 b. $134,000 c. $136,667 d. $140,000 15. Company J acquired all of the outstanding common stock of Company K in exchange for cash. The acquisition price exceeds the fair value of net assets acquired. How should Company J determine the amounts to be reported for the plant and equipment and long-term debt acquired from Company K? Plant and equipment Long-term debt a. K's carrying amount K's carrying amount b. K's carrying amount Fair value c. Fair value K's carrying amount d. Fair value Fair value