Advanced A c Exam (Fall 2020)- I q $850,000 n cas npoppogolling assessed to have a value of on dare the As the book value of K's equity totaled $800,000 (common stock $500,000 and earnings of $300.oogJ h twas assessed have an acqus cn da e k on w b $100,000 in 2018.$120,000 in 2020 and $125,000 in 202! As of 12312019. '25.000 2018 20 and 2021 sales bein on hand 12212021 All values 13 cost of Goods sold 28 -88250 -80000 -88250 -80000 43 63 common stock 76 Apyrem e equipment on its balance sheet e 09 ?mount'paid for K's sells inventory K. with the saies p 'eflecting a 20/ s undervalued bg In add t iti fair value of $50,000-10 ps*profit Inventory sae on hand. with $30,000 of the 2020 sales bein c ending amounts P e urchas d fro 035000 205000 70000 -280000 15000 -325000 1480001 Izsooo 802000 88000 20000 885000 -600000 -325000 -885000 m Min 2021 As the individua: financ Consolidation Adl 42 Net Income J Dividends paid R Earnings 12'3"21 cash and Receivables Eqyipment-Net APIC 14>1 (a -700000 4 soooo 188000 -382501 45000 248000: 233000 825000 308000 220000 2E.08 -38000m -180000 -300000 08) Total Liabilities and E e -2E.08 Totals 885000 258000 -38250 -148250 -148250 -1482501 eonoo 398000 382000 825000 eosooo 20000 3E.8 -550000 -800000 -3E.08